Burgess Rawson are pleased to present to market Balnarring Motors freehold at 2994 Frankston-Flinders Road, Balnarring VIC for sale via Investment Portfolio 173. This property has the following key investment highlights: + New Seven (7) year net lease to 2031. + Court ordered sale – the property must be sold. + Fixed, compounding 3% annual rent increases. + Balnarring Motors: Longstanding automotive business on-site since 1972 including auto electrician, mechanical workshop, pump-service fuel station and retail shop. + Prominent 410 sqm* building including retail shop, mechanic workshop with 5 hoists, storage, amenities and drive-through warehouse access. + Expansive 981 sqm* landholding with rear ROW and located on service road with ample parking adjacent. + Excellent exposure to Frankston-Flinders Road, servicing 42,700* vehicles weekly.**** + Valuable ‘Commercial 2’ Zoning allowing significant underlying upside and a multitude of future uses STCA. + Tenant pays all usual outgoings as per the lease. + Two director guarantees in place providing security. + 200m* from Balnarring Village Shopping Centre including Ritchies Supa IGA, Zambrero, Cellarbrations, Bendigo Bank, Clinical Labs, Australia Post and many more. + Balnarring: Strong holiday destination on the Mornington Peninsula located 63km* from Melbourne CBD with a median house price of $1,320,000.** + Mornington Peninsula Shire: Tourism has seen a 55% increase from the previous year with total domestic tourists reaching 8.23 million people.*** + Estimated Net Income: $79,450 pa* + GST. To be sold by Investment Portfolio Auction 173 10:30AM AEDT Wednesday 11 December 2024 River Room, Crown Casino, Melbourne * Approx ** Realestate.com.au *** Mornington Peninsula Shire **** Gapmaps
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