Strong Pilates | Multi-National Fitness Investment | 10 Year Lease to 2035

Sale Details

Sold on 30 Jun 2025 for $1,958,000

Description

CVA Property Consultants and Burgess Rawson are pleased to offer to market ‘Strong Pilates’ at Showrooms 2 & 3, 19 Chandos Street, Cheltenham VIC for sale via National Portfolio Auction 177.

The property has the following key investment highlights:

- New Ten (10) Year lease to February 2035 plus Two (2) further Five (5) Year options to 2045.
- $114,800 per annum in leasing income.
- Fixed, compounding 4% annual rent increases ensuring continued income growth.
- Strong Pilates: multi-national pilates and cardio inspired fitness studio with 68 locations in Australia. Cheltenham location opened to full capacity bookings.
- Landlord favourable net lease terms with tenant paying usual outgoings including rates and insurance.
- Well-presented, brand new modern 278 sqm* showroom featuring reception, amenities, demised showers/changerooms.
- Two (2) large showrooms featuring premium fit outs to Strong Pilates' latest corporate design and functional layout.
- Lease secured by 6 month Bank Guarantee plus personal guarantee to the performance of the lease.
- Strategically positioned providing ground floor frontage, advertising pylon rights and direct access to large shared carpark.
- Cheltenham Quarter: a premium award nominated commercial and industrial precinct designed for productivity and growth, anchored by high profile Dan Murphys. Finalist in Urban Developer ‘Commercial Development of the Year’ category.
- Brand new construction completed in January 2025 providing maximum tax saving depreciation benefits.
- Cheltenham: desirable bayside location 16km* south of Melbourne CBD and one of the largest shopping and employment hubs in Melbourne’s south east (3) plus the Government Suburban Rail Loop Project ($216b). (4)
- City of Bayside: forecast for population to increase 21% by 2046 (2) with a median house price of $2,130,000 (3)

This property is being sold on the same day as ‘Inner Strength Physio’ in the same complex, the information memorandum contains information for both investment opportunities.

To be sold via Investment Portfolio Auction 177
10:30am AEST on Wednesday, 25 June 2025
River Room, Crown Casino, Melbourne

* Approx
(1) Forecast.id
(2) Housing.id
(3) Let’s explore Cheltenham - Victoria’s Big Build
(4)SRL East at Cheltenham - Victoria’s Big Build