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20 Heaths Court Mill Park, VIC 3082


20 Heaths Court,
Mill Park, VIC 3082

Warehouse, Factory & Industrial

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14 Year WALE – ASX Listed Tenant – Strategic Land Holding

JLL are pleased to offer the opportunity to purchase this exceptional investment opportunity offering reliable long-term income and a multitude of higher and better use future redevelopment options.

The property comprises a significant and strategic land holding of 24,414m2 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.
Key investment highlights include:

- Long term lease with 14.1 year WALE (as at 1 March 2019)
- 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 $764,569* p.a. net (as at April-19)
- The tenant has invested significant capital in the facility in recent times, demonstrating their commitment to the site
- Building area of 11,420* square metres
- 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



For further information or to arrange an inspection please contact myself Adrian Rowse (+61 414 836 817) Tony Iuliano (+61 412 992 830) or Charlton Holmes (+61 439 334 154).

Property ID: 503089634Last Updated: 24 Jun 2019

03 9672 66... logo
20 Heaths Court
Mill Park, VIC 3082
JLL - Melbourne
Level 40, 101 Collins Street
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