Industry Property Group are very excited to be appointed as the exclusive agents to represent this fantastic investment with a tenant in place.

46 Graingers Road was developed by Omnico Corporation only 8 years ago and this business park is absolutely thriving. The cafe onsite draws a crowd and is a fabulous addition to the immediate area with excellent coffee and the perfect meeting place to take clients.

There has been significant capital growth in West Footscray in the past 5 years and the suburb has transformed into one of the best municipalities for young families who want to live closer to the CBD and have all the necessary amenities within a short walk/drive.

The same goes for industrial warehouses; anything located only 8km from Melbourne's CBD is going to continue to rise in value. Tenants love 46 Graingers Road as the development is situated only 600 metres away from West Footscray train station, there is a bus stop right out the front of the property, there is even child care facility across the road that is available.

Securely locked up at night and CCTV in the common areas, this development has been one of the most successful developments ever built in the western suburbs. Every single unit here including the office building was sold out off the plan which is a telling sign that people have full faith in this development.

Rather than buying an industrial warehouse and waiting for the agent to find a tenant, this property has a tenant already meaning you can receive a return on your money from day one. Below are the details of the current lease in place:

Tenant: GP Vehicle Accessories (Auto electricians)
Lease commencement: 1st August 2023
Current rent payable: $27,510 per annum plus GST plus outgoings
Rent as of 1st August 2024 after 3% increase: $28,240 per annum plus GST plus outgoings
Lease Expiry: 31st July 2025
Outgoings payable by tenant (not including land tax): $4,560 per annum
Land tax (payable by landlord): $950 per annum

There aren't a lot of investment opportunities in Melbourne for under $500,000. There certainly aren't any investments in Melbourne that you can receive a 5.7% return and where the tenant pays all of the outgoings (except the land tax). You can simply sit back and collect rent.

This property will be sold as a 'going concern' so there is no GST payable on the sale.

If you'd like to organise an inspection, please contact either Cameron or Stuart below and we are happy to meet you onsite for an inspection during business hours.

This savvy investment will not last long at all.