Renewed Lease to the Victorian State Government – Essential Service Investment

Renewed 4-year lease to August 2024 to Victorian State Government – tenant in occupation for 11 years.
Fixed 2% bi-annual increases assuring growth.
Highly sought-after essential service investment.
Modern 123sqm office with 24-hour access to 4 car parks and directly below 55 residential apartments.
Prime Plenty Road position with direct exposure to the 86-tram line and 59,000 + vehicles passing daily.
Situated within key education precinct nearby Latrobe Uni Melbourne Campus (36,500 students), RMIT Bundoora Campus (7,700 students) & Parade College (1,850 students).
Directly adjacent Bundoora Square: Circa 100 retailers including Woolworths & Coles and within 2km of Uni Hill Factory outlets (99 retailers).
Bundoora: Established residential metro suburb only 19km north-east of Melbourne CBD.
Net Income: $51,685 pa + GST.

Auction 11am (AEST) Wednesday 28th October 2020