Flagship Position in Thriving Shopping Centre

Super Reliable - Dual Income Investment

RWC Glen Waverley has been engaged exclusively to offer the opportunity at 409 Blackburn Road, Mount Waverley.

Private Sale $2,000,000

Benefit from the security of two long standing tenancies in a bustling shopping precinct.

Tenant One - Pinewood Chicken Bar

• Established for 45+ years, arguably the most sought after shop in the precinct
• Leased until March 2031
• Fixed 4% annual rental increases
• Excellent chicken rolls with chips + gravy
• Passing rent $75,924 pa*
• All usual outgoings paid by the tenant excluding Land Tax

Tenant Two - Self-Service Laundromat

• Seven year Lease - Term expiry December 2026 (with options)
• Modern commercial fit out, with regular clientele
• Fixed 3% annual rent increases
• Passing rent $32,856 pa**
• All usual outgoings paid by the tenant excluding Land Tax

• Total rent: $108,780 PA + GST + Outgoings. *

This property has all the attributes that make up a great investment; key highlights:

• 5+ years remaining on the major lease to Pinewood Chicken Bar, a generational food retail business that has been operating for some 45+ years

• Approx. 1.5 years remaining on Laundry lease (traditionally long term operators), modern fit out suggests continued tenure

• Commercial 1 Zone (C1Z)

• Fixed annual rent increases, ensuring continued income growth

• Landlord favourable NET lease terms, with tenants responsible for usual outgoings including council rates, water rates and insurance premiums

• Impressive 132 m2 total area (approx). With great corner profile to Blackburn Road and car parking

• Split income offering protection to cashflow moving forward

• High vehicle traffic, busy main road exposure, with low speed access and ample of off street parking

• High foot traffic destination, with so many complementing businesses nearby

Please contact one of the exclusively appointed RWC Agents listed below for a copy of the Information Memorandum, Contract, to arrange for a private inspection or for anything further, and we look forward to your presence at the auction.

For more information, call the exclusive agents:
Ryan Trickey - 0400 380 438
Will Jonas - 0422 883 011
Dillon Chambers - 0422 909 456

** Laundry rental includes $98 + GST per month being paid as a covid-deferred component until November 2026.

*All areas and figures approx. only. All boundaries are indicative only. All precautions have been taken to establish the accuracy of all information, but they do not constitute any representation by the Vendor or Agents.

All information about the property has been provided to Ray White by third parties. Ray White has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to the property.

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