SOLD | Off-Market

20 Heaths Court, Mill Park VIC, Australia
  • Address: 20 Heaths Court Mill Park VIC 3082
  • Land Area: 24414 sqm*
  • Floor Area: 11420 sqm*
  • Property type: Industrial
  • Offer type: Transactions
  • City: Mill Park
  • Post Code: 3082

Overview

Jones Real Estate is pleased to announce the off market sale of 20 Heaths Court, Mill Park.

The property comprises a significant and strategic land holding of 24,414 sqm* 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.

  • 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 $850,000* p.a. (as at May – 2022)
  • The tenant has invested significant capital in the facility in recent times, demonstrating their commitment to the site
  • Building area of 11,420 sqm*
  • 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

*Approx.

Please contact the team at Jones Real Estate for further information on this sale.

Paul Jones
+61 488 779 749
Paul.Jones@Jonesre.com.au

Tim Spargo
+61 402 747 030
Tim.Spargo@Jonesre.com.au

Sam Guest
+61 458 467 482
Sam.Guest@Jonesre.com.au

Luke Peric
+61 432 467 771
Luke.Peric@Jonesre.com.au

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