New Convenience Centre Investment with Long W.A.L.E.

47-49, Bassetts Road, DOREEN

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669.00 m2

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Overview

GrayJohnson is excited to offer for sale Vantage Central in Bassetts Road, Doreen (corner Cookes Road).

With new leases of 7 to 10 years and built-in rental increases, this is an outstanding opportunity to secure a blue chip, essential services investment in one of Melbourne’s biggest growth areas.

The recently-built centre is anchored by a FoodWorks supermarket and liquor outlet, part of a group with more than 400 stores Australia-wide.

There are three additional tenancies – a fish and chip restaurant, a pizza restaurant and a falafel café – all offering both dine-in and take-away options.

Vantage Central occupies a prominent corner position with pylon signage and has excellent off-street customer car parking.

The centre is located in the northern corridor of metropolitan Melbourne in the City of Whittlesea, an area with significant population growth.

This, combined with the long W.A.L.E. and the essential-services offering, makes Vantage Central a recession-proof investment. And, because this is a new building, the substantial income comes with significant depreciation benefits.

The opportunity:
• Neighbourhood convenience centre anchored by FoodWorks supermarket & liquor
• Plus three quality food tenants
• Recession-proof with daily needs tenancy mix
• Combined rental: $279,635 pa (as at Jan 2024)
• New 7-10 year leases (W.A.L.E. 9.6 yrs*)
• Prominent corner location
• Building area 669 sqm*, land 1,515 sqm*
• New building with significant depreciation benefits

The location:
• Located in high-growth area (City of Whittlesea)
• Abuts quality residential precinct
• Easy access to M80 Ring Road via Plenty Road

Transaction Manager: Appel Property

*approx.

Key Details

Status

For Sale

Type

Retail

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