13 & 15 Compark Circuit
Mulgrave, VIC 3170
0.83ha (2.06 acres)
Special Use Zone – Schedule 6 under the City of Monash Planning Scheme
29 Nov 2019
100% Leased Office Investment with 3.7 year WALE
- Net income $1,737,478 p.a. (at 01/11/19)
- Excellent rent reversion potential
- Two Buildings on Two Titles
Offering two fully leased standalone office buildings, 13 & 15 Compark Circuit provides investors with a secure investment opportunity leased to established long-term tenants.
Key benefits of this outstanding offering include: -
• Two fully leased standalone office buildings with a total NLA of 5,851 sqm* plus 226 car spaces.
• Net passing income of $1,737,478 per annum* plus GST and Outgoings (at 1/11/19).
• Large land holding of 8,334 sqm* with dual street frontage.
• Located in the heart of the Monash Technology Precinct.
• Low leasing risk with staggered leasing expiry and excellent WALE of 3.7 years.
• Long standing tenant history with multiple long-term tenants with over 90% of the income secured beyond up to and beyond June 2022.
• Excellent car parking ratio of 3.8 car spaces per 100 sqm of NLA.
• Below market office rentals offering longer term rent reversion.
• Record low vacancy rates across Metropolitan Melbourne increasing face rents and reducing incentives.
Situated in the heart of the Monash Office and Technology Precinct, 13 & 15 Compark Circuit are located less than 500 metres from the intersection of Springvale and Wellington Roads. The property enjoys the benefit of quick access to Princes Highway, Monash Freeway and EastLink. In addition, it is well serviced by public transport with bus services running along Wellington and Springvale Roads, further connecting to Oakleigh and Springvale Train Stations.
For further information please contact the exclusive marketing agents, Dawkins Occhiuto and Knight Frank.
Property ID: 503339450Last Updated: 9 Dec 2019