SOLD | Off-Market

20 Heaths Court, Mill Park VIC, Australia

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Industrial (4)

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SOLD | Off-Market

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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