Prime Investment with Huge Development Potential within the Werribee Activity Centre

Sale Details

Sold on 01 Jul 2016 for $5,150,000

Description

CVA Property Consultants are pleased to offer you the opportunity to secure this exceptional property located in the Werribee CBD which boasts massive exposure and three street frontage. Enjoy income with huge future development potential..

The site currently operates as a very successful new and used Toyota car dealership comprising a large modern new car showroom with a substantial fully concreted car sales display yard with frontage to Watton, Synnot and Werribee Streets.

Watton Street offers a wide range of clothing outlets, quality retail stores, service businesses as well as major supermarkets and convenient stores. Public transportation servicing the area includes trains from nearby Werribee Railway Station, just a short 10 minute walk from the subject property.

The property is within the new Activity Centre Zone under the Wyndham Planning Scheme. The overall objectives to be achieved for the land use and development is to facilitate and strengthen the growth of Werribee City Centre as a key regional commercial, retail, recreational and cultural focal point of Melbourne's west, and a location for higher density residential development.

Lessee: Davey Motor Company Pty Ltd T/A Werribee Toyota
Term: New 3+3+3+3 years
Rental: $276,000 per annum plus outgoings as per lease
Reviews: Annual 3%
Bond: Three months rental.
NOTE Redevelopment clause in lease allowing purchaser to redevelop the site after the first three year term, and giving 12 months notice.