1102-1106 Dandenong Road, Carnegie

1102-1106

Dandenong Rd Carnegie

F O R S A L E BY E X P R E S S I O N S O F I N T E R E ST C L O S I N G W E D N E S D AY 8 T H S E P T E M B E R 2 0 2 1 AT 2 P M

1102-1106

Dandenong Rd Carnegie

Contents 04

INTRODUCTION

06

EXECUTIVE SUMMARY

10

LOCATION

14

SUBURB PROFILE

18

PROPERTY PARTICULARS

22

TENANCY DETAILS

24

KEY REASONS TO BUY

26

SALE METHOD

3

Introduction Aston Commercial are pleased to offer 1102-1106 Dandenong Road, Carnegie for sale by Expressions of Interest closing on Wednesday 8th September 2021 at 2pm.

Operating as the Carnegie Motor Inn this property has been held by the same family for several decades.

In this time Carnegie has transformed into a major Commercial hub with significant infrastructure added to the immediate area including the recently completed multi-million dollar upgrade of Carnegie Railway Station and the Carnegie Central Shopping complex.

This significant landholding will be ripe for providing income today but an enormous opportunity to develop into the future.

Situated on Dandenong Road a major gateway connecting commuters between the CBD fringe and south-east suburbs.

We highly recommend this property for your serious consideration.

4

Executive Summary

1102-1106

Dandenong Rd Carnegie Positioned 12km’s south-east of the CBD, just metres from the intersection of Koornang and Dandenong Roads adjoining Carnegie Central Shopping Centre.

Motel featuring a full range of accommodation including standard motel units, one and two bedroom self-contained apartments and two storey townhouses which can accommodate up to six people.

LOCATION

LAND AREA

Located near Koornang & Dandenong Roads adjoining Carnegie Central Shopping Centre.

2,455 sqm*

LEASE DETAILS

ZONING

Currently leased as the Carnegie Motor Inn on a 4 year lease with options at a rental of $184,517 pa*

Residential Growth Zone RGZ1

METHOD OF SALE

TERMS OF SALE

For sale via Expressions of Interest closing on Wednesday 8th September 2021 at 2pm

10% deposit with settlement in 60-120 days *approx.

EXCLUSIVE SELLING AGENTS

6

Fred Nucara

Liam Rafferty

Director 0418 567 560 fred@astoncommercial.com.au

Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au

Location Some nearby businesses & infrastructure:

Local Businesses • Woolworths • Spotlight • Aldi • Chemist Warehouse • BWS • Rosstown Hotel • Chadstone Shopping Centre

Education • Carnegie Primary School • Murrumbeena Primary School • St Anthony’s School • De La Salle middle school campus • Monash University

Transport • Train – Carnegie Railway Station • Tram – Route 3 – Waverley Rd • Tram – Route 67 – Glen Huntly Rd • Bus – Routes 623,624, 626, 900 & 969

Recreation • Ardie Park • Koornang Park • Carnegie Library • Caulfield Racecourse • Packer Park • Duncan Mackinnon Reserve 10

Suburb Profile:

Carnegie 3163 Carnegie is predominantly a residential

The suburb features areas of open space

area with a great mix of housing types,

south of the neighbourhood, including

with parts of the suburb having seen

Lord Reserve, Packer and Koornang Parks.

major redevelopment and some still feature older style housing and

Carnegie is well served by public transport

period homes.

with a train line north of the suburb, the Glen Huntly Road tram line and buses run

Close to Monash University, the suburb

through the suburb.

is attractive to students. There is a vibrant and lively shopping centre centred around the railway station.

Median House Price

$1,780,000

Surrounding Suburbs Murrumbeena

$1,620,000

Ormond

$1,830,000

Glen Huntly

$1,890,000

Malvern East

$2,070,000

Source: REIV

14

“The suburb is anchored by the thriving Koornang Road shopping strip.”

Property Particulars TITLE PARTICULARS Certificate of Title Volume: 09411 Folio: 851

LAND DESCRIPTION Plan of Consolidation 151444

ZONING Under the Glen Eira City Council Planning Scheme the land is zoned Residential Growth Zone – RGZ1 The land is also subject to the following overlay PO2-2 - Parking Overlay Precinct 2 2.

LAND DIMENSIONS AND AREA

Dandenong Road Frontage

43.36 metres*

Eastern Boundary

64.77 metres*

Western Boundary

52.58 metres*

Total Land Area: 2,455 square metres* *approx.

18

Tenancy Details

Overview of Tenant Carnegie Motor Inn offers its guests a full range of accommodation which include standard motel units, one and two bedroom self-contained apartments, and even two storey townhouses which can accommodate up to six persons.

All Standard Motel Units contain a queen size bed, ensuite, bar fridge, toaster, kettle, television and microwave. Some motel units also have a twin share facility. All Apartments feature separate bedrooms, separate lounge rooms and full kitchens with oven, fridge, microwave, cooking utensils and crockery.

Carnegie Motor Inn is situated between the famous Caulfield Racecourse, Monash University-Caulfield Campus and the world renown Chadstone Shopping Centre. www.carnegiemotorinn.com.au

22

Trading Name

Carnegie Motor Inn

Rent

$184,517 pa + GST

Lease Term

Four (4) years

Commencement Date

14 May 2020

Options

4 + 4 + 2 years

Rent Reviews

Nil (market review at exercise of option)

Outgoings

Paid by tenant

23

Key Reaso

Long standing suburban Motel providing substantial annual income.

24

Significant landholding with major development upside (STPA).

Walking d Carnegie Station Cranbo Pakenh

ons to Buy

distance to e Railway n on the ourne / ham line.

Moments to bustling retail strip Koornang Road home to major retailers, leading restaurants & boutique businesses.

Highly sought area with a Median House Price of $1,780,000 (REIV).

25

Sale Method

1102-1106

Dandenong Rd Carnegie METHOD OF SALE

TERMS OF SALE

For sale via Expressions of Interest closing on Wednesday 8th September 2021 at 2pm

10% deposit with settlement in 60-120 days

INSPECTIONS

CONTRACT OF SALE & VENDORS STATEMENT

Strictly by private appointment with the exclusive selling agents.

Available upon request.

EXCLUSIVE SELLING AGENTS

26

Fred Nucara

Liam Rafferty

Director 0418 567 560 fred@astoncommercial.com.au

Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au

DISCLAIMER “Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom. *Approximate