14D Oleander Drive, MILL PARK, VIC

Sold Price: $9,045,000
Sold Date: 26/09/2019

Building Area: 1188 sqm

15 YEAR LEASE TO GOVERNMENT MEDICAL TENANT

Gorman Commercial in conjunction with Knight Frank are delighted to offer for sale this sensational brand new Government Medical investment with a 15 year lease to Melbourne Health (a subsidiary of the Royal Melbourne Hospital).

Recently completed, the property is ideally located within the South Morang Activity Centre and only minutes from Westfield Plenty Valley Shopping Centre, South Morang Train Station and easily accessible via Plenty Road and the Metro Ring Road.

To be offered for sale via an Expressions of Interest campaign closing on Tuesday 24th September at 4pm, the property provides an astute investor with a long term income stream to a AAA rated Government tenant plus significant annual tax depreciation benefits.

Property features include:

* Long term 15 year lease (comm’t June 2018) with 5 + 5 year options
* Government Medical tenant being Melbourne Health, a subsidiary of the Royal Melbourne Hospital
* Total building area of 1,188 sqm approx. plus 22 car spaces
* Land area of 1,380 sqm approx.
* Current net rental of $422,155 pa + GST + outgoings
* Fixed annual 3% rental increases
* Significant annual tax depreciation benefits
* Land tax exemption
* High growth corridor with excellent surrounding amenity and great access to public transport

Positioned within the South Morang Activity Centre 200 metres from Westfield Plenty Valley Shopping Centre and 800 metres from the South Morang Train Station.

For a copy of the Information Memorandum or to arrange an inspection please contact one of our exclusive agents below.