9 Fellowes Court Tullamarine_Property for Sale

9 Fellowes Court, Tullamarine, VIC, 3043, AU

9 Fellowes Court Tullamarine

Asset Description

JLL, as exclusive selling agents, are pleased to present the opportunity to purchase 9 Fellowes Court, Tullamarine.

Located only 6 km from the Melbourne Airport, the property presents an opportunity to access near term rental reversion within an established, high growth area. The asset benefits from excellent connectivity to Melbourne’s arterial road network via Airport Drive, providing links to the Western Freeway (M8), Western Ring Road (M80), Tullamarine Freeway, the Westgate Freeway and Princes Freeway (M1).

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Attributes

Building area Gross

4,072 m²

Occupancy

100.00%

Year built

~2000

Media

Investment Highlights

Key details of the opportunity include:

· Near term lease of 2.3 years (by income) with no further options enabling significant rental reversion, or a strategic future play for owner occupiers to enter the Tullamarine market.

· Passing annual net rental of $610,860 ($150 /m²) is considered approximately 9% below market.

· The current improvements provide highly functional office warehouse facilities, benefitting from recessed loading docks and recent refurbishments.

· The asset boasts excellent infill characteristics and the potential to expand (STCA) in an otherwise land-constrained location creating significant future value upside.

· Record low vacancy level of less than 1% across the North has remained underpinned by continued strong occupier demand and rental growth in excess of 20% over the last 12 months.

9 Fellowes Court, Tullamarine is being sold via an International Expressions of Interest Closing at 4pm Wednesday 6 September (AEST).

*Approx.

To obtain further information or to arrange an inspection, please contact the exclusive selling agents.