6,693sqm Trophy Auto Dealership Freehold Investment
24-26 Overton Road, Frankston VIC 3199
Price on Request
RetailSize: n/a
Block size: 6693 m² approx.
Burgess Rawson are pleased to offer the fully leased Skoda freehold investment located at 24-26 Overton Road & 35 New Street, Frankston VIC for sale via Expressions of Interest closing Tuesday 21 May 2024.
Investment highlights include:
+ Irreplaceable 6,693 sqm* corner landholding providing combined frontage of 115 metres* to Overton Road.
+ Strategic location within the premium automotive showroom precinct which includes Ford, Toyota, Kia, Hyundai, Nissan, Subaru, Mitsubishi plus many more.
+ Within 400m* Frankston Freeway and Frankston-Dandenong Road on and off ramps, seeing a combined 84,000 vehicles passing daily. (1)
+ Skoda: Major European brand owned by Volkswagen, operating in over 100 countries globally and 67 dealerships across Australia. (2)
+ Thriving industry: Skoda's Australian car sales up 23% year-on-year. (3)
+ Five year lease to through to 2027 plus three further five year options through to 2042.
+ Strong and certain income growth with fixed annual, compounding 3% increases.
+ Recent $1 million showroom fit-out and upgrade carried out by the tenant to Skoda's corporate layout and design.
+ Minimal management investment, investor friendly net lease, with tenant paying all usual outgoings.
+ Frankston: Major commercial, retail, education and transport hub servicing the Mornington Peninsula, with a growing population forecast to increase 40% by 2041. (4)
+ Frankston is the gateway to the Mornington Peninsula: Tourism up 55% year-on-year with total domestic tourists reaching 8.23 million people. (5)
+ Estimated Net Income: $367,023 pa* + GST.
Expressions of Interest
Closing 3pm (AEST) Tuesday 21 May 2024
For further information please contact the agents directly
*Approximately
(1) GapMaps
(2) Skoda Australia
(3) FCAI 22-23
(4) Forecast.id
(5) Mornington Peninsula Shire
Investment highlights include:
+ Irreplaceable 6,693 sqm* corner landholding providing combined frontage of 115 metres* to Overton Road.
+ Strategic location within the premium automotive showroom precinct which includes Ford, Toyota, Kia, Hyundai, Nissan, Subaru, Mitsubishi plus many more.
+ Within 400m* Frankston Freeway and Frankston-Dandenong Road on and off ramps, seeing a combined 84,000 vehicles passing daily. (1)
+ Skoda: Major European brand owned by Volkswagen, operating in over 100 countries globally and 67 dealerships across Australia. (2)
+ Thriving industry: Skoda's Australian car sales up 23% year-on-year. (3)
+ Five year lease to through to 2027 plus three further five year options through to 2042.
+ Strong and certain income growth with fixed annual, compounding 3% increases.
+ Recent $1 million showroom fit-out and upgrade carried out by the tenant to Skoda's corporate layout and design.
+ Minimal management investment, investor friendly net lease, with tenant paying all usual outgoings.
+ Frankston: Major commercial, retail, education and transport hub servicing the Mornington Peninsula, with a growing population forecast to increase 40% by 2041. (4)
+ Frankston is the gateway to the Mornington Peninsula: Tourism up 55% year-on-year with total domestic tourists reaching 8.23 million people. (5)
+ Estimated Net Income: $367,023 pa* + GST.
Expressions of Interest
Closing 3pm (AEST) Tuesday 21 May 2024
For further information please contact the agents directly
*Approximately
(1) GapMaps
(2) Skoda Australia
(3) FCAI 22-23
(4) Forecast.id
(5) Mornington Peninsula Shire
Inspections
No open inspections scheduled.
Send an enquiry
Contact Jamie Perlinger to learn more about this property, request an inspection or take an online tour.
Key details
Property type:
Retail
Block Size:
6693 m²*
Other Details
Lot:
16
Plan:
LP26076
Legal description:
16\LP26076
Maps and area information
Block information
Block size: 6693m² (approx)
Legal description: 16\LP26076
Measurements are estimates only and based on data provided under licence from
© PSMA Australia 2024.
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SummaryMedian sales
Average Age
40 years
Population
37,331
Listing ID: 182458038. This listing has been viewed 0 times. It was first displayed on 18/04/2024 and last updated on 19/04/2024.
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