OAK office
9 Gloucester Avenue, Berwick
WELCOME TO OAK
This sophisticated new development at 9 Gloucester Avenue reflects Berwick's transition from an agricultural township to a thriving suburban Centre.
Contemporary commercial and retail spaces combined with luxurious residences in this transformational multipurpose precinct.
We are offering for sale the first-floor office as an investment with a 5 year lease in place.
LOCATION
The striking two-storey brick street frontage draws on the scale and rhythm of the surrounding Berwick urban village and the nearby historic town centre. In front is a downstairs retail space beneath the upstairs office/retail area serviced by a dedicated lift and ground floor foyer.
Look behind and see the building grow into a multi-storey home to 20, two- and three-bedroom private residences.
The retail and office precinct of Berwick Village is tightly held and rarely is there a long-term vacancy.
Berwick offers all you would expect from a well-established southeast Melbourne suburb.
THE SPACE
On offer to purchase, is a space comprising 315sqm at first-floor level, serviced by a dedicated lift and foyer. The entry foyer is 38sqm.
The property is zoned commercial 1, and has just been leased.
With 9 +1 disabled dedicated undercover car parks, this space is unique to Berwick.
EXTERIOR FACADE
LEASE DETAILS
Term | 5 Years |
Commencement | 1st December 2022 |
Annual Rent | $123,828 plus GST |
Annual Reviews | 3.5% annually on anniversary, market at option |
Outgoings | Paid by tenant (subject to Retail Lease Act) |
Options | 1 x 5 years |
THE INVESTMENT
The property offers an outstanding investment opportunity in the Berwick Village Precinct. Securely leased and attracting excellent depreciation benefits (Indicative Depreciation report below) this property certainly works financially.
Adding to that, this property is one of only two in Berwick with a lift and the only one with a dedicated lift. This future proofs the building by adding appeal to a wider number of potential future tenants should the need arise.
Undercover-dedicated car parking is another important and rare benefit.
PLANS
PRICING
The property is available for sale in the range of $2,500,000 to $2,750,000.
THANK YOU FOR YOUR INTEREST
Please do not hesitate to contact us with any questions that you may have.
Regards,
Shannon Hynd |
Ross Neilson |