Buy one or both in booming Truganina

A pair of commercial properties with pole position in one of Melbourne’s significant growth areas could see a boom of their own when they’re put on the block later this month.

The UltraTune auto service centre and Progressive Era Dental clinic at 451 Leakes Rd in booming Truganina between Hoppers Crossing and Laverton, are expected to prove very popular with investors when they’re auctioned at Burgess Rawson’s next Portfolio Auction on Wednesday, October 30.

Both properties form the bookends of a thriving new commercial and retail hub, headlined by a United service station and supported by a childcare centre, medical centre and other retail stores.

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The UltraTune enjoys a position immediately alongside the service station, with direct access off Leakes Road, which is in the process of being duplicated to accommodate a huge spike in traffic due to the surrounding residential growth.

The UltraTune auto service centre at Truganina.

The 320sqm property is leased through to 2024 with further options, and currently returns $87,550 per annum plus GST.

Burgess Rawson director Shaun Venables says the property is set to benefit from huge population growth in the coming years, and should sell for upwards of $1.4 million.

“It’s amazing to look at an area that was farmland not so long ago, and now it’s an absolute sprawl of suburbia and still growing,” Venables says.

“The UltraTune is on the home-bound side of the road, capturing all of that traffic. It’s an impressive looking structure with a lot of exposure, and anyone looking to get into the commercial market or add to their portfolio should give this one serious consideration.”

The dental clinic at Shop T7, 451 Leakes Rd sits at the other end of the precinct and is tipped to ride the huge popularity of medical-tenanted commercial properties.

The dental surgery in Truganina.

The new standalone premises is supported by a neighbouring medical centre and a childcare centre, has eight car spaces on-title and returns $42,720 per annum plus GST.

It is expected to sell for more than $700,000.

Venables says medical properties are going from strength to strength as investors increasingly gravitated towards industries that cannot be disrupted by technology.

“Medical facilities are an essential service, which makes them an asset class for any market,” he says.

“Here we’ve got a brand new clinic in a very fast growing area, with a landlord-friendly lease structure that sees the tenant pay rent plus all outgoings and with fixed increases.”

“It will fall within a price point that will be very appealing to most investors.”

Burgess Rawson’s Portfolio Auction 132 will be held in Crown Casino’s River Room at 12pm on Wednesday, October 30.