198 Princes Way, Cnr. Longwarry Road,
Drouin, VIC 3818
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Mobil Branded Petrol Station with Further Development Opportunity and New 15 year lease
* Island Site with High Profile Main Road Frontage
* New Fibreglass Underground Storage Tanks and Lines
* Bustling growing township close to Melbourne
* Purchaser also to fund development of a new building and canopy at fixed cost ($600,000), with additional rent of $51,000 pa. to be paid (equivalent to $8.5% return on cost) upon completion
Right at the northern gateway to Drouin, close to Pakenham and Melbourne’s South Eastern suburbs via the Princes Freeway and Pakenham Bypass.
Tenant: Gippsland Petroleum Group Pty Ltd.
Term: 15+5+5+5+5+5 years.
Rent: $50,000 pa., plus GST. (plus $51,000 pa. additional rent upon completion and payment for new works).
Reviews: Fixed 3.5% annual increases.
Outgoings: Payable by tenant (except land tax – 2008 single holding basis $nil).
$600,000 (approx. 8.33% net return), plus further $600,000 investment upon completion of proposed works by Tenant.
* New Fibreglass Underground Storage Tanks and Lines
* Bustling growing township close to Melbourne
* Purchaser also to fund development of a new building and canopy at fixed cost ($600,000), with additional rent of $51,000 pa. to be paid (equivalent to $8.5% return on cost) upon completion
Right at the northern gateway to Drouin, close to Pakenham and Melbourne’s South Eastern suburbs via the Princes Freeway and Pakenham Bypass.
Tenant: Gippsland Petroleum Group Pty Ltd.
Term: 15+5+5+5+5+5 years.
Rent: $50,000 pa., plus GST. (plus $51,000 pa. additional rent upon completion and payment for new works).
Reviews: Fixed 3.5% annual increases.
Outgoings: Payable by tenant (except land tax – 2008 single holding basis $nil).
$600,000 (approx. 8.33% net return), plus further $600,000 investment upon completion of proposed works by Tenant.
Property ID: 5492133Last Updated: 5 Dec 2013
03 9826 04...
198 Princes Way, Cnr. Longwarry Road
Drouin, VIC 3818
Ronald A Newton & Associates Pty Ltd - South YarraLevel 3, 177 Toorak Road
SOUTH YARRA, VIC 3141
SOUTH YARRA, VIC 3141
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