FOR SALE by Expressions of Interest
closing Thursday 12th May at 3pm
132 – 138 Colac Road, Highton
Nichols Crowder is offering a retail investment property with future development upside for purchase via an Expressions of Interest campaign.
Located opposite the expansive Waurn Ponds shopping centre, this property features a massive 71 metre frontage to Colac Road and is next door to McDonalds.
Anticipating around a 7% return per annum, the property comprises 5 shops all leased to food retailers. Subway, the major tenant is well supported by Tasty Rooster, Bubba Pizza, 24 Hour Kebabs and Deccan Indian Kitchen. The tenants are on varying lease terms up to 2020 plus options.
The property generates a total rental income of $208,127 p.a.
The site is positioned in a Residential Growth Zone and features a total site area of 4,545m2. The site offers excellent future development potential.
According to Nichols Crowder selling agent, Matt Nichols, “This specific location in Waurn Ponds is where everyone stops. Whether the consumer is looking for take away food, petrol, car wash, supermarket, medical needs and full shopping facilities, this is the ideal retail location.
This is assisted by the positioning of the property on the main road and close to the off ramp from the Geelong by pass which gives access to Torquay and along the Bellarine Peninsula.
This is a great location because so many people stop here.”
The property is expected to fetch around $3million.
358 South Road, MOORABBIN VIC 3189
Matt Nichols - Managing Director
0418 186 488