Tightly held industrial precinct just 10km from Melbourne CBD – 570sqm of high-quality leasable space on valuable 782sqm of land – currently significantly under-rented with rental review coming up in 1.5 years
Negotiation strategy: Auction Purchase likely to have limited competition
With a lease in place running for another 4.5 years including options owner occupiers were going to be out of the race. Only experienced investors would have seen that the property was significantly under-rented due to a deal struck during COVID. The upcoming rent review will bring the lease up to market rent and automatically add at least $200,000 to the valuation.
