The property, Red Rooster Springvale South, is located at 663-671 Springvale Road, Springvale South, occupying a prominent 3,646sqm corner landholding with dual street frontage to Springvale Road and Patterson Road. The site benefits from exceptional exposure to approximately 36,000 vehicles per day along one of Melbourne’s key arterial roads.
Comprising a freestanding, drive-thru fast food facility leased to Red Rooster, the asset is underpinned by a secure 10-year Head Office lease with fixed 3 per cent annual rental increases. The lease expires in December 2032 and includes two further 5-year options, providing long-term income security.
Partner and Head of Victoria for Ray White Retail, Rick Silberman, explains that the site is compelling on many levels, with one attribute standing out in particular: its significant future value-add potential.
“With site coverage of just 7 per cent, the property offers a substantial surplus landholding, providing clear long-term flexibility to accommodate additional uses and materially enhance income potential over time (STCA).”
The property generates a current rental income of $92,944 + GST per annum, with the tenant responsible for all usual outgoings. With passing rent assessed as below market, the investment offers reversionary upside over time.
Springvale and the broader Greater Dandenong region continue to outperform metropolitan and national benchmarks, supported by strong population growth, established infrastructure, and a major employment base. Forecast population growth of nearly 25 per cent to 2041 further reinforcing the long-term strategic appeal of the asset.
The property is being offered for sale via Expressions of Interest, closing 3.00pm (AEST), Thursday 16 April.
HIGH-RES IMAGE HERE
