450-466 Princes Highway, Noble Park_Property for Sale

450-466 Princes Highway, Melbourne, VIC, 3174, AU

450-466 Princes Highway, Noble Park

Asset Description

Capital Markets at JLL are pleased to exclusively offer for sale 450-466 Princes Highway, an unmatched value-add investment opportunity in the heart of one of Australia’s premier logistics precincts.

Centrally located along a key arterial road in Melbourne’s South East, the property is hyper-connected to the wider arterial network – appealing to a wide array of occupiers.

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Attributes

Building area net

22,024 m²

Occupancy

100%

Year built

2019

Land area gross

4,114 m²

Media

Investment Highlights

Passing income is ~30% below assessed market levels - direct ability to access MTM reversion
Unique offering whereby the estate has a registered 10 lot strata plan of subdivision – allowing sell down strategies to be implemented immediately
Substantial land holding of 4.4ha that's serviced by over 140m of frontage to the Princes Hwy
Flexible lease expiry profile and an attractive WALE of 4.21 (as at Oct 23) years - allowing incoming purchasers to reset rents to market levels and capitalise on the reversionary upside

The asset is being offered For Sale via International Expressions of Interest closing Wednesday 1 November 2023 at 3pm (AEDT).

For further information, please contact a member of the JLL team.