HEADMEMORANDUM.INFORMATIONOFFICE 18-20 Russell St, Melbourne SOUTH EASTERN OFFICE 2 Brandon Park Dr, Wheelers Hill EASTERN OFFICE Suite 2, 5 Corporate Blvd, Bayswater WESTERN OFFICE Suite 102, 3 Little Boundary Rd, Laverton North POINT OF INTEREST: 2 Village Crescent, Westmeadows.
CONTENTS 01 POINT OF INTEREST 02 POINT OF VIEW 03 PROPERTY FEATURES 04 LOCATION 05 SUBURB PROFILE 06 PROPERTY PARTICULARS 07 CONTACT DETAILS 08 APPENDICES ▪ TITLE PLAN ▪ LEASE ▪ EXERCISE OF OPTION LETTER
01 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE 01 POINT OF INTEREST 2 VILLAGE CRESCENT, WESTMEADOWS BUILDING AREA 240 sqm* (110 sqm* store & 130 sqm* dwelling) LAND AREA 930 sqm* ZONING General Residential Zone - Schedule 1 (GRZ1) TENANCY Tenanted to Food Kangaroo Pty Ltd METHOD OF SALE Private Sale SALE TERMS 10% deposit, balance 60/90 days
CRAIG DIRECTORMCKELLAR COREY LE PROPERTYFAVIEXECUTIVE
02 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE 02 POINT OF VIEW
A portfolio must-have. A strong tenant providing immediate rental return and a freehold site offering flexibile optons into the future.
”
Shop
“A clean and simple opportunity nestled within Melbourne’s northern suburbs is the type of asset you’ll forget you have in your portfoliountil you see the return on investment every month.”
“ This site will always be in demand by the residents that surround it, so the value only increases without ever having to lift a finger.
$42,034 p.a rental return 4-year lease term with two further 4 year terms. front plus rear dwelling Development potential with GRZ1 zoning
PROPERTY FEATURES
03 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE 03
This impressive freehold site incorporates 930 sqm* corner land area with 240 sqm* total building area inclusive of a shop front (110 sqm*) and rear dwelling (130sqm*). The front of the property features an extensive retail fit out, and captures attention from the street with bold signage display complimented by an outdoor seating area. The rear dwelling provides open plan kitchen and dining, a bathroom plus 2 bedrooms and leads through to a paved courtyard.
IMPROVEMENTS
04 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE 04 LOCATION
AND
Nestled within a residential hub just 17km* north of the CBD, this freehold site sits proudly at the corner of Village and Erinbank Crescents.
Broadmeadows main town centre is under 5km* from the property on Pascoe Vale Road. Here, you’ll find
Surrounded by residences, the Erinbank Convenience Store is a loved local amenity positioned on the pocket’s main throughfare and catching high levels of foot and vehicle traffic throughout the day. It’s just 450 m* from the Yuoke Creek and Broadmeadows Valley Trail, and the route 477 bus stops within walking distance.
Broadmeadows Railway Station, Broadmeadows Central shopping centre (hosting more than 135 retailers), Bunnings and Supercheap Auto, plus council services including the Town Hall, Library and the local sports and aquatics centres. At the back of this pocket is Kangan Institute.
Broadmeadows Hospital sits adjacent to the main hub on Johnstone Street – a 5 minute drive from 2 Village Crescent.
Small-town charm with a half hour drive to the CBD, retail in Westmeadows is fiercely local. POINT TO: WESTMEADOWS THE POINT?
ALL SIGNS
WESTMEADOWS.
Recent facts show that the median age for home occupiers is 39 years and the median household size is 2.6 people. The average number of bedrooms per occupied private dwelling is 3.2. 80.4% occupy a separate house in this suburb and 19.0% are semidetached. THE MAP:
SOURCES: PROPERTYDATA.COM.AU & AUSTRALIAN BUREAU OF STATISTICS, CENSUS 2016
05 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE 05 SUBURB PROFILE FAMILY HOUSEHOLDINDIVIDUAL WEEKLY INCOME $1,367$614$1,595 100% 5,848 RESIDENTS 16.1% 942 RESIDENTS 68% 3,974 RESIDENTS 15.9% 932 RESIDENTS BETWEEN 15-65 UNDER 15 OVER 65 POPULATION $588,000.00$675,000.00HOUSEUNIT RESIDENTIALMEDIAN PRICES
There are two bus routes that operate around Westmeadows. These bus routes are the 477, which runs from Broadmeadows station to Moonee Ponds station and the 484, which runs from Broadmeadows Railway Station to Roxburgh Park station.
ON
Westmeadows is situated under 17km north of the Melbourne CBD. Mainly a residential suburb, Westmeadows includes the ares east and west of Mickleham Road.
06 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE Council rates: $1,960 per annum Water rates: $1,014.48 per annum Land tax: Refer to Contract of Sale PRINCIPLE OUTGOINGS Frontage to Erinbank Crescent: 32.1 metres* Frontage to Village Crescent: 17 metres* Northern side boundary: 27 metres* Total site area: 930 square metres* SITE TITLEDETAILSPARTICULARS Certificate of Title — Volume 10213 Folio 024 Lot 1 on Plan of Title Plan 331845V. ZONING General Residential Zone - Schedule 1 (GRZ1) 06 PARTICULARSPROPERTY
A prime tenanted investment opportunity, a 4-year lease with two further terms of 4 years. Currently leased to a convenience store, returning rent $42,034 plus outgoings and gst annually. The current tenants had no rent relief over the last 24 months. They’re staying put for at least another four years with options to renew, and there’s also an annual increase to the rent as part of the agreement — lining your pockets now and into the future. But if developing the site into something new is on your radar, there are plenty of options to cease the lease and break new ground.
07 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE TENANT Food Kangaroo Pty Ltd trading as Erinbank Convenience Store CURRENT RENTAL $42,034 p.a. + outgoings LEASE TERM Four (4) years FURTHER TERM Four (4) years + Four (4) years COMMENCEMENT DATE 28th June 22022 RENTAL REVIEWS CPI OUTGOINGS $6,000 p.a. approx TENANCY DETAILS 06 PARTICULARSPROPERTY
ANY OF THE CONTENTS OF THIS REPORT. *APPROXIMATELY 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE 07 CONTACT DETAILS M: 0431 892 780 E: craig.mckellar@cva.melbourne
CRAIG MCKELLAR DIRECTOR - NORTHERN REGION POINT OF INTEREST:
POINT OF INTEREST: With an interest in commerce and experience in construction management, Luca has both the creativity and practical problem-solving skills needed to cut it in this industry. Enthusiastic. Committed. Diligent. Having joined CVA in 2017, it was 2020 that saw him become a Sales and Leasing Executive. A role in which Luca is able to showcase his enthusiastic side, fixated on even the smallest of details which make all the difference in helping both developers and investors alike. It’s all of this that will keep you interested in working with him, well beyond the point at which your transaction concludes.
NOR IS
“Under the umbrella of real estate, commercial property stands alone in its unique and diverse opportunity. Ongoingly, those in the market have seen prospects align — whether that’s a location to expand your growing business, an investment with rental and capital growth, or a development with appreciating value.”
THE
08
DISCLAIMER: THIS REPORT HAS BEEN COMPILED ON THE BASIS OF INFORMATION AVAILABLE. THOUGH EFFORTS HAVE BEEN MADE TO VERIFY OR ESTABLISH THE ACCURACY OF THE MATERIAL, IT IS NOT POSSIBLE TO WARRANT THAT IT IS ACCURATE. SOME PREDICTIONS ARE ESTIMATES ONLY AND NECESSARILY BASED ON ASSUMPTIONS WHICH MAY NOT OCCUR. ALL PARTIES SHOULD MAKE THEIR OWN INDEPENDENT ENQUIRIES WITH REGARD TO ALL INFORMATION CONTAINED REPORT IS INTENDED TO BE GENERAL INFORMATION ONLY AND WILL NOT FORM PART OF ANY CONTRACT IT TO BE TAKEN AS ANY FORM OF REPRESENTATION, WARRANTY OR INDUCEMENT. THE AGENTS AND REPRESENTATIVES DO NOT ACCEPT ANY RESPONSIBILITY FOR AND WILL NOT BE LIABLE IN RESPECT OF
ANY
Craig has been transacting commercial real estate in Melbourne’s north for more than a decade. And in that time, he’s marvelled at how the properties within this point of the city have adapted to the burgeoning urban landscape. It’s a transformation he has witnessed not just as a real estate agent but a property consultant, too. He’s equipped with the resources to think beyond today and forecast market trends, investor profitability and even Melbourne’s weather — yes, you should always pack a jumper.
POINT OF VIEW: “Commercial property is integral to the productivity of our society. Turning over the existing property, and similarly the construction of new property ensures innovation, creation and the further evolution of all industries. It is this collective growth that keeps me so excited to deliver for every one of my clients.” E: luca.angelico@cva.melbourne 0447 772 782
LUCA ANGELICO PROPERTY EXECUTIVE - NORTHERN REGION
POINT OF VIEW:
M:
IN THIS REPORT. THE
09 2 VILLAGE CRESCENT, WESTMEADOWS INFORMATION MEMORANDUMWWW.CVA.MELBOURNE 08 APPENDICES
2 VILLAGE CRESCENT, WESTMEADOWSWWW.CVA.MELBOURNE TITLE PLAN
Additional information: (not part of the Register Search Statement) Street Address: 2 VILLAGE CRESCENT WESTMEADOWS VIC 3049
------------------------ENDNIL OF REGISTER SEARCH STATEMENT------------------------
Any encumbrances created by Section 98 Transfer of Land Act 1958 or Section 24 Subdivision Act 1988 and any other encumbrances shown or entered on the plan set out under DIAGRAM LOCATION below. DIAGRAM LOCATION SEE PS331845V FOR FURTHER DETAILS AND BOUNDARIES IN THE LAST 125 DAYS
NABIHABASSAMProprietorsAJOURIAJOURI
The land in this folio is affected by OWNERS CORPORATION PLAN NO. PS331845V Copyright State of Victoria. No part of this publication may be reproduced except as permitted by the Copyright Act 1968 (Cth), to comply with a statutory requirement or pursuant to a written agreement. The information is only valid at the time and in the form obtained from the LANDATA REGD TM System. None of the State of Victoria, its agents or contractors, accepts responsibility for any subsequent publication or reproduction of the information.
PARENT TITLE Volume 09430 Folio 219 Created by instrument PS331845V 27/01/1995
The Victorian Government acknowledges the Traditional Owners of Victoria and pays respects to their ongoing connection to their Country, History and Culture. The Victorian Government extends this respect to their Elders, past, present and emerging.
REGISTERED PROPRIETOR Estate Fee Simple Joint
ACTIVITY
ADMINISTRATIVE NOTICES
OWNERS CORPORATIONS
MORTGAGE
VOLUME 10213 FOLIO 024 Security no : 124093332891J Produced 26/10/2021 03:39 PM LAND DESCRIPTION Lot 1 on Plan of Subdivision 331845V.
COMMONWEALTH
ENCUMBRANCES, CAVEATS AND
REGISTER SEARCH STATEMENT (Title Search) Transfer of Land Act 1958 Page 1 of 2 Title 10213/024 Page 1 of 2
both of 24 MURCHISON DRIVE ROXBURGH PARK VIC 3064 AF783262H 16/04/2008 NOTICES AF783263F 16/04/2008 BANK OF AUSTRALIA
eCTNIL Control 15940N COMMONWEALTH BANK OF AUSTRALIA Effective from 23/10/2016
(Title
DOCUMENT END Copyright State of Victoria. No part of this publication may be reproduced except as permitted by the Copyright Act 1968 (Cth), to comply with a statutory requirement or pursuant to a written agreement. The information is only valid at the time and in the form obtained from the LANDATA REGD TM System. None of the State of Victoria, its agents or contractors, accepts responsibility for any subsequent publication or reproduction of the information. The Victorian Government acknowledges the Traditional Owners of Victoria and pays respects to their ongoing connection to their Country, History and Culture. The Victorian Government extends this respect to their Elders, past, present and emerging. STATEMENT Search) Transfer of Land Act 1958
Page 2 of 2 Title 10213/024 Page 2 of 2
REGISTER SEARCH
© State of Victoria. This publication is copyright. No part may be reproduced by any process except in accordance with the provisions of the Copyright Act 1968 (Cth) and for the purposes of Section 32 of the Sale of Land Act 1962 or pursuant to a written agreement. The information is only valid at the time and in the form obtained from the LANDATA® System. None of the State of Victoria, LANDATA®, Victorian Land Registry Services Pty. Ltd. ABN 86 627 986 396 as trustee for the Victorian Land Registry Services Trust ABN 83 206 746 897 accept responsibility for any subsequent release, publication or reproduction of the information.
Imaged Document Cover Sheet
Copyright and disclaimer notice:
The document is invalid if this cover sheet is removed or altered.
The document following this cover sheet is an imaged document supplied by LANDATA®, Victorian Land Registry Services. Document Type Plan Document Identification PS331845V Number of Pages (excluding this cover sheet) 3 Document Assembled 26/10/2021 15:45
2 VILLAGE CRESCENT, WESTMEADOWSWWW.CVA.MELBOURNE LEASE
2 VILLAGE CRESCENT, WESTMEADOWSWWW.CVA.MELBOURNE EXERCISE OF OPTION LETTER
