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Gorman Commercial are pleased to offer the Ground Floor, 116 Martin Street, Brighton for sale by way of Expressions of Interest closing on Tuesday 27th October at 2pm.
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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