47A Wangara Road
CHELTENHAM, VIC 3192

Impressive Corporate Office Investment - Home To International Retailer

***EXPRESSIONS OF INTEREST CLOSED***

Fitzroys is delighted to offer for sale this impressive Corporate Office Investment located within Bayside’s rapidly developing Bayside Business District and surrounded by excellent lifestyle amenities.

The key attributes of this impressive investment include:

•  Substantial 2 level corporate office building plus on-site car parking of 70 spaces
•  Total Building Area: 1,648sqm with flexible open plan layout
•  Total Current Rent: $365,580.00 per annum plus outgoings and GST.
•  Leased to quality tenants comprising of New Balance Pty Ltd and Ability Plus Disability Services.
•  Excellent transport amenities nearby with the immediate convenience of Southland Shopping Centre, Southland Station, ALDI Supermarket, Dan Murphy's and more.

New Balance Pty Ltd (Occupy 50% of the building)
•  Current Rent: $253,000 per annum plus all outgoings (including Land Tax) and GST.
•  Leased from July 2018 for 5 years plus options through to July 2028.

Ability Plus Disability Services Pty Ltd
•  Current Rent: $112,486 per annum plus all outgoings (including Land Tax) and GST.
•  Leased from July 2018 for 5 years with options through to July 2028.

* Both Tenants not subject to the Retail Lease Act.

Vacant part first floor office available for lease or owner occupation.
•  Area: 435sqm approx. plus onsite parking.

Potential fully leased income: $495,000 per annum plus all outgoings and GST approx.

Cheltenham is a booming south eastern suburb 18km south-east of Melbourne CBD with a median house price of $1,162,000, (10.2% up since Sep 2020) and population forecast to grow 26.4% by 2041.

47A Wangara Road, Cheltenham presents an outstanding opportunity to acquire a highly impressive corporate office investment with the flexibility to occupy or re-lease a portion of the building while enjoying solid rental income from exceptional Tenants all located in a popular business/lifestyle precinct.