11-13 Milgate Street, Oakleigh South

11-13 MILGATE ST Oakleigh South

4X LEASED WAREHOUSES FOR SALE BY PUBLIC AUCTION ON WEDNESDAY 31ST MARCH 2021

THE POWER Of Four

04 INTRODUCTION 08 EXECUTIVE SUMMARY 12 LOCATION 16 TENANCY DETAILS 20 PROPERTY PARTICULARS 26 SALE METHOD

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INTRODUCTION 4x warehouses

Aston Commercial IS pleased to offer 11-13 Milgate St, Oakleigh SOUTH for sale by public auction on Wednesday 31st March 2021 at 12:00pm on-site.

This is a rare opportunity to secure four fully leased, premium inner Melbourne office warehouses on a corner site as a whole.

This unprecedented offering of near new low maintenance warehouses, provides a diversity of income spread across 4 tenants in the new city

fringe thriving metropolis which will undoubtedly see significant growth in the coming years.

Aston Commercial highly recommends this lowrisk, premium industrial investment of four office warehouses for your serious consideration.

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UNIT 1

Near new industrial development of four fully leased self-contained office warehouses with street frontage and off-street parking to be sold AS ONE.

UNIT 3

UNIT 4

UNIT 2

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EXECUTIVE Summary PROPERTY

LOCATION

11-13 Milgate Street Oakleigh South Victoria 3167

Located close to North Road, Dandenong Road/Princes Highway and Warrigal Road.

AREAS

LEASE DETAILS

Land Area: 1,481 sqm* Building Area: 1,045 sqm*

Secure spread of four tenants with a combined income of $167,045 per annum NET.

METHOD OF SALE

TERMS OF SALE

For Sale by public auction on Wednesday 31st March 2021 at 12pm on-site.

10% deposit with settlement in 30-60 days.

EXCLUSIVE SELLING AGENTS

RODNEY KING 0422 839 870 rodney@astoncommercial.com.au

JEREMY GRUZEWSKI 0422 211 021 jeremy@astoncommercial.com.au

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11

A CONVENIENT Location Oakleigh is steeped in a rich Greek heritage THAT has become a vibrant metropolis.

The property is located in the established and popular Oakleigh South industrial precinct close to Huntingdale, Oakleigh, Clayton and Chadstone.

Oakleigh South is approximately 17km from the Melbourne CBD. The property benefits from easy access to major arterial roads including North Road, Princes Highway, Huntingdale Road and Centre Road.

The property is positioned on the south-west corner of Milgate Street and Manton Road.

The area is well serviced by Public Transport with Huntingdale Train Station only 800m* away, buses along North Road, Princes Highway and Warrigal Road.

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PORT PHILLIP BAY

HUNTINGDALE TRAIN STATION

MELBOURNE CBD CHADSTONE SHOPPING CENTRE

HUNTINGDALE RD

NORTH RD

11-13 MILGATE ST Oakleigh South

MILGATE ST MANTON RD

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TENANCY Details Property features include: + Four (4) separate tenancies + Annual rent increases + All buildings have street frontage to Manton Road + On-site secure carparking accessed via Milgate Street + Excellent tax depreciation benefits (Schedule available on request) + All leases due for increases this year + Consistently very low vacancies in the area + Strong annual growth

Description: The property consists of four adjoining well-constructed solid concrete tilt slab office warehouses. Fronting Manton Road, each warehouse has a bright and modern glass façade with a two-level showroom office as well as kitchen and bathroom facilities on both levels. Each have high clearance flexible warehouses to the rear with motorised container height roller doors. Further the properties benefit from secure off-street parking to the rear accessed off Milgate Street, plus ample on-street parking at the front and around the area.

UNIT 1

UNIT 2

UNIT 3

UNIT 4

TOTAL

Size

280sqm 267sqm 249sqm 249sqm 1045sqm

Car Park Spaces

5

5

5

5

20

17

UNIT 1 280 sqm

UNIT 2 267 sqm

Tenant:

Tenant:

Victoria Taekwondo

F45 Fitness

Lease:

Lease:

Five (5) year lease plus three (3) year option

Three (3) year lease plus two (2) further terms of three (3) years

Rent:

Rent:

$42,436 per annum + GST & outgoings

$43,709 per annum + GST & outgoings

Commencement:

Commencement:

15th December 2017

1st September 2019

T o t a l c o m b i n e d i n c o m e $ 1 6 7,

UNIT 3 249 sqm

UNIT 4 249 sqm

Tenant:

Tenant:

Harton Property Pty Ltd

Odyssey Property Services

Lease:

Lease:

Three (3) year lease plus two (2) further terms of three (3) years

Monthly Tenant

Rent: $40,000 per annum + GST & outgoings

Commencement:

Rent: $40,900 per annum + GST & outgoings

Commencement: 1st July 2017

31st January 2020

045 PA pLus GST & Outgoings 19

PROPERTY Particulars DIMENSIONS AND AREA

TITLE PARTICULARS

Milgate Street Frontage: 30.48 metres*

Lot 33 on Plan of Subdivision 012445 certificate of Title Volume: 08978 Folio: 204

Manton Road Frontage: 41.44 metres* Total Combined Building Areas: 1,045 sqm* Total Land Area: 1,481 sqm* (*approx)

Lot 34 on Plan of Subdivision 012445 certificate of Title Volume: 08978 Folio: 205

T AT E S MILG

UNIT 1

UNIT 2

UNIT 3

UNIT 4

MANTON RD

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WAREHOUSE LEVEL

GROUND Floor

N

MILGATE ST

MANTON RD

23

OFFICE LEVEL

FIRST Floor

N

MILGATE ST

MANTON RD

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SALE Method METHOD OF SALE: For Sale by public auction on Wednesday 31st March 2021 at 12pm on-site.

TERMS OF SALE: 10% deposit with settlement in 30-60 days.

INSPECTIONS: Strictly by appointment with the exclusive selling agents.

CONTRACT OF SALE & VENDORS STATEMENT: Available upon request.

EXCLUSIVE SELLING AGENTS

RODNEY KING 0422 839 870 rodney@astoncommercial.com.au

JEREMY GRUZEWSKI 0422 211 021 jeremy@astoncommercial.com.au

11-13 MILGATE ST Oakleigh South

DISCLAIMER This document has been prepared by Aston Commercial Pty Ltd for advertising and general information only. Aston Commercial Pty Ltd do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Aston Commercial Pty Ltd excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising therefrom. *Approximate