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Coles Express, 137-139 Princes Drive (corner Jane Street) Morwell, VIC 3840

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Coles Express, 137-139 Princes Drive (corner Jane Street) Morwell, VIC 3840

Shop & Retail • Showrooms & Bulky Goods • Development Sites & Land
Sold Price

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Land area

3036.0m²

Floor area

432.0m²

Property extent

Whole

Tenure type

Tenanted Investment

Sold on

24 Oct 2018

Brand New Service Station - 10 + 10 Year Lease To Coles Express

  • 10 + 10 Year Lease To Coles Express
  • Significant Tax Depreciation Benefits
  • Tenant Pays All Usual Outgoings
Brand new 10 year lease to Coles Express (Wesfarmers Ltd) to 2028 plus 10 year option to 2038.
$10k annual rent increases first 4 years – lesser of 3.5% or 5 times CPI thereafter.
Lessee pays all usual outgoings including single holding Land Tax.
Coles Express: growing subsidiary of Coles Group Limited with 685 outlets. Wholly owned by Wesfarmers Limited – a top 10 ASX company.
High profile gateway corner of 3,036 sqm with 111 metre total frontage – 13,000+ vehicles passing daily.
Potential value add opportunity via negotiation with tenant to surrender surplus land.
Important Mixed Use Zoning (MUZ) providing the most flexible future potential.
Brand new development providing substantial taxation saving depreciation benefits.
Morwell: central within Greater Latrobe Valley urban area (population 75,000) regional hub of Gippsland, 145km east of Melbourne.
Rent: $260,000 pa

Auction 11am AEDT Wednesday 24 October 2018
River Room, Crown Casino, Melbourne

Property ID: 502971542Last Updated: 17 Feb 2019

Coles Express, 137-139 Princes Drive (corner Jane Street)
Morwell, VIC 3840

Agency contacts

Burgess Rawson - Melbourne

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Burgess Rawson - Melbourne

Level 7,140 Bourke Street
MELBOURNE, VIC 3000
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Scott Meighan
Burgess Rawson - Melbourne
Coles Express, 137-139 Princes Drive (corner Jane Street) Morwell, VIC 3840

Hi,
I’m interested in this property. Could you please provide me with more information.

Kind Regards,

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