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Gorman Commercial are pleased to offer the Ground Floor, 116 Martin Street, Brighton for Private Sale.
The property is being sold with a brand new Ten (10) year lease to a proven and well-known co-working operator, Waterman Workspaces, and provides the ultimate "Set & Forget” investment for yield chasing investors.
The key highlights are:
- Securely leased with a brand new ten (10) lease to an exceptional tenant
- Lease term: 10 + 5 + 5 years – commencing 1st September 2026
- Net annual income of $534,547 per annum + GST + outgoings (excluding land tax)
- Healthy fixed annual rent increases of 3.75% throughout the term of the lease
- Highly attractive covenant, Waterman Workspaces, with 21 locations throughout Victoria and home to 1,000+ businesses & 4,000+ members
- Excellent security deposit with 6-month bank guarantee in place
- Brand new refurbished office space of 747sqm with modern fit out for co-working office space
- Excellent car parking with 25 secure basement car spaces on title
- Significant depreciation benefits
- Located within the popular Martin Street retail village, close to Gardenvale train station and surrounded by quality retail and lifestyle amenity
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