SUBSTANTIAL FREEHOLD &
REFURBISHED BUILDING WITH
SECURE LONG TERM BANK LEASE

22 Watton Street, Werribee

RENEWED LONG TERM TRIPLE NET LEASE

22 Watton Street, Werribee

PRIME POSITION IN
BUSY ACTIVITY CENTRE

22 Watton Street, Werribee

LAND RICH BANK INVESTMENT
REFURBISHED BUILDING

22 Watton Street, Werribee

GROUND FLOOR RETAIL BANKING AND
FIRST FLOOR BUSINESS BANKING

22 Watton Street, Werribee

SUBSTANTIAL FREEHOLD &
REFURBISHED BUILDING
WITH SECURE LONG
TERM BANK LEASE

Emmetts are delighted to exclusively present 22 Watton Street, Werribee- a significant 632 sq m landholding with refurbished two storey building of 710 sq m plus car parks, secured by a recently renewed long term lease to National Australia Bank Ltd. The property is for sale by Public Auction on Friday 3rd June at 2:30 pm on site.

Key investment considerations include:

The Location

+ Located in the Activity Centre of Werribee which has been identified by the Victorian Government as a Place of State Significance for Investment & Growth and specifically as a National Employment & Innovation Cluster (Plan Melbourne 2017- 2050 Strategy Document).

+ The City of Wyndham already has a strong local economy supporting 64,611 jobs with an annual economic output of $23.954 billion with the largest employment sector being the growing Transport, Postal and Warehousing Sector representing 13.51% (Remplan).

+ Werribee is strategically positioned between Melbourne and Geelong and benefits from the outstanding road and rail connectivity and is easily commutable to both cities.

+ Strong population growth forecast of 62% between now and 2041 (Forecast ID).

+ Watton Street Werribee is the main community retail and commercial hub for the City of Wyndham. It is bookended by a Coles supermarket and a Woolworths supermarket and houses a strong line up of local and national retailers.

+ The strip benefits from a strong local following with high levels of pedestrian footfall and a low vacancy rate.

The Property

+ Prime central position in Watton Street Werribee.

+ Substantial landholding of approximately 632 square metres.

+ Significant frontage of approximately 16 metres.

+ High quality two-storey refurbished and refitted building of approximately 710 square metres.

+ Leased to National Australia Bank Limited who have been in occupation for over 20 years.

+ Utilised by NAB for both retail banking at ground level and business banking on the first floor as a regional office for the western area.

+ High quality modern fit-out on both levels including lift access to the first floor.

+ In 2019, NAB renewed their lease for a term of Seven (7) years with (3) further terms of five (5) years.

+ Current rent of $259,584 per annum plus GST reflecting an overall rental rate of $365 per sq m without allowance for car parking.

+ Fixed rental increases of 4% per annum throughout the lease term with market reviews at the commencement of the further terms.

+ Rent increasing to $269,467 per annum plus GST in November this year.

+ Strong market rental growth potential from the current rental level.

+ Triple net lease – Tenant responsible for all outgoings including land tax in addition to the rent.

 

The properties are for sale by Public Auction Friday 3rd June 2022 at 2:30 pm onsite.

For further information including the Information Memorandum, Contract of Sale and to arrange an inspection, please contact Emmetts as the exclusive agents.

Call Us

Charles Emmett
+61 402 358 069
Enquire With Agent
Andrew Milligan
+61 421 559 992
Enquire With Agent
Geoff Emmett
+61 409 330 561
Enquire With Agent

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