Investors, Developers and Owner Occupiers! Start your engines and race to the chequered flag for this highly versatile freehold opportunity. Offered by the Vendor family for the first time in 60 years, Ultra Tune has occupied the site since 2006, however, the lease expires on 31st August, 2015 and does not include a Lease Option for a further term. The Purchaser will have the opportunity to negotiate a new lease, obtain vacant possession to occupy or maximise the site’s development potential (STCA). The current rent is $61,224 per annum net (GST exclusive).

The single level clear span factory/warehouse has a building area of 346m2 (3,724ft2) approx. on a deep land allotment of 425m2 (4,575ft2) approx. noting that rear, right of way access is provided from Woodlands Avenue. The neighbouring Officeworks store has further enhanced the Harp Village Shopping Centre as a popular community retail goods and services destination.

PROPERTY ATTRIBUTES

Building area: 346m2 (3,724ft2) approx.
Land area: 425m2 (4,575ft2) approx.
Construction comprises brick walls, concrete floors and AC roof sheeting
Rear right of way access from Woodlands Avenue

LOCATIONAL ATTRIBUTES

Eastern gateway to the Harp Village Shopping Strip
Neighbouring anchor tenant is Officeworks
Other adjoining tenants are Jaycar (Electronics retailer) and the newly built Garden Gallery, Kew

LEASE PARTICULARS

Current Rent: $61,224 per annum net (GST exclusive)
Lease term: 2 years expiring 31st August, 2015
Further term: Nil
Bank Guarantee: $19,360

TITLE PARTICULARS

Volume 08040 Folio 910. Lot 1 on Plan of Subdivision 027569
Volume 07380 Folio 973. Road R1 on Plan of Subdivision 027569

ZONING

Commercial 2 Zone under the City of Boroondara Planning Scheme