Key investment considerations include:
+ 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.
+ 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.