Entry Level Freehold | Established Tenant
51a McCartin Street, Leongatha VIC 3953
Auction 14/05/24
RetailSize: n/a
Block size: 506 m² approx.
Burgess Rawson and Alex Scott Leongatha are pleased to offer to the market, DF Fitness Centre in Leongatha VIC for sale via our Investment Auction Portfolio 168.
The property has the following investment highlights:
+ 5 year lease to January 2026 plus 5 + 5 year options to 2036
+ Investor preferred net lease terms with tenant paying usual outgoings as per lease
+ Fixed 2.5% annual rent increases
+ Low rent per/sqm providing for potential significant future rental uplift
+ Long established health & fitness club since circa 2003
+ Health club expanded into 51a McCartin Street since 2016
+ Long successful and experienced proprietor circa 16 years
+ Membership up circa 20% in last 12 months
+ 341 sqm* freestanding single level building, plus rear verandah
+ Prime 506sqm* freehold site with 10 metre retail frontage
+ Site includes easy rear access and parking
+ High profile Bass Hwy position, major thoroughfare connecting Latrobe Valley to Bass Coast and beyond
+ Proven location mostly central between national retail giants KHub (opposite) and Aldi (rear side) and short distance to Woolworths, IGA, CBA.
+ Potential 50% stamp duty saving
+ Leongatha: capital township of South Gippsland, rich dairy region, circa 15,000 trade catchment
+ Rent $29,076pa* + GST
To be sold by Investment Portfolio Auction
10:30am (AEST) Tuesday 14 May 2024
Crown Casino, Melbourne
The property has the following investment highlights:
+ 5 year lease to January 2026 plus 5 + 5 year options to 2036
+ Investor preferred net lease terms with tenant paying usual outgoings as per lease
+ Fixed 2.5% annual rent increases
+ Low rent per/sqm providing for potential significant future rental uplift
+ Long established health & fitness club since circa 2003
+ Health club expanded into 51a McCartin Street since 2016
+ Long successful and experienced proprietor circa 16 years
+ Membership up circa 20% in last 12 months
+ 341 sqm* freestanding single level building, plus rear verandah
+ Prime 506sqm* freehold site with 10 metre retail frontage
+ Site includes easy rear access and parking
+ High profile Bass Hwy position, major thoroughfare connecting Latrobe Valley to Bass Coast and beyond
+ Proven location mostly central between national retail giants KHub (opposite) and Aldi (rear side) and short distance to Woolworths, IGA, CBA.
+ Potential 50% stamp duty saving
+ Leongatha: capital township of South Gippsland, rich dairy region, circa 15,000 trade catchment
+ Rent $29,076pa* + GST
To be sold by Investment Portfolio Auction
10:30am (AEST) Tuesday 14 May 2024
Crown Casino, Melbourne
Inspections
No open inspections scheduled.
Send an enquiry
Contact Raoul Holderhead to learn more about this property, request an inspection or take an online tour.
Auction
Tuesday 14 May, 10:30am
Crown Casino - River Room - Melbourne
Key details
Property type:
Retail
Block Size:
506 m²*
Other Details
Plan:
PC377300
Legal description:
PC377300
Maps and area information
Block information
Block size: 506m² (approx)
Legal description: PC377300
Measurements are estimates only and based on data provided under licence from
© PSMA Australia 2024.
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Property history
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SummaryMedian sales
Average Age
48 years
Population
5,869
Listing ID: 182452839. This listing has been viewed 3 times. It was first displayed on 16/04/2024 and last updated on 17/04/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.