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Sold

20 Heaths Court, Mill Park

Jones Real Estate is pleased to announce the sale of 20 Heaths Court, Mill Park.

The property comprises a significant and strategic land holding of 24,414 sqm* situated within a land constrained market. The site is zoned ‘Commercial 2’ creating a range of higher order development opportunities in the future. The asset is subject to a 15 year lease expiring April 2033 to ASX listed company Food Revolution Group (ASX:FOD) with the lease providing fixed rental growth of 3.0% p.a.

Fully leased to ASX listed tenant Food Revolution Group (ASX:FOD)
Fixed annual 3% rental increases throughout the term of the lease
Rental income of $850,000* p.a. (as at May – 2022)
The tenant has invested significant capital in the facility in recent times, demonstrating their commitment to the site
Building area of 11,420 sqm*
Significant and strategic land holding of 2.4* hectares within land constrained market
Commercial 2 Zoning providing a multitude of future uses for the site
Major recent capital works have been undertaken including full office refurbishment
Excellent connectivity to Melbourne CBD and Melbourne International Airport
Retail amenity nearby – Woolworths anchored neighbourhood shopping centre next door, Westfield Plenty Valley approximately 1.2kms north-west
High underlying land value underpins the asset

*Approx.

Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.

Property Type

Commercial, Development

Address

20 Heaths Court, Mill Park VIC 3082

Method of sale

Sale by Negotiation

Land Area

24414 sqm

Floor Area

11420 sqm

Occupancy

Vacant Possession

Price guide

$20,000,000

Map of: 20 Heaths Court VIC 3082

Helping build, manage and negotiate strong, sustainable, market-leading investments.

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