24-26 Overton Road, Frankston, VIC 3199

Burgess Rawson are pleased to offer the fully leased Skoda freehold investment located at 24-26 Overton Road & 35 New Street, Frankston VIC for sale via Expressions of Interest closing Tuesday 21 May 2024.

Investment highlights include:

+ Irreplaceable 6,693 sqm* corner landholding providing combined frontage of 115 metres* to Overton Road.

+ Strategic location within the premium automotive showroom precinct which includes Ford, Toyota, Kia, Hyundai, Nissan, Subaru, Mitsubishi plus many more.

+ Within 400m* Frankston Freeway and Frankston-Dandenong Road on and off ramps, seeing a combined 84,000 vehicles passing daily. (1)

+ Skoda: Major European brand owned by Volkswagen, operating in over 100 countries globally and 67 dealerships across Australia. (2)

+ Thriving industry: Skoda’s Australian car sales up 23% year-on-year. (3)

+ Five year lease to through to 2027 plus three further five year options through to 2042.

+ Strong and certain income growth with fixed annual, compounding 3% increases.

+ Recent $1 million showroom fit-out and upgrade carried out by the tenant to Skoda’s corporate layout and design.

+ Minimal management investment, investor friendly net lease, with tenant paying all usual outgoings.

+ Frankston: Major commercial, retail, education and transport hub servicing the Mornington Peninsula, with a growing population forecast to increase 40% by 2041. (4)

+ Frankston is the gateway to the Mornington Peninsula: Tourism up 55% year-on-year with total domestic tourists reaching 8.23 million people. (5)

+ Estimated Net Income: $323,873 pa* + GST.

Expressions of Interest

Closing 3pm (AEST) Tuesday 21 May 2024

For further information please contact the agents directly

*Approximately

(1) GapMaps

(2) Skoda Australia

(3) FCAI 22-23

(4) Forecast.id

(5) Mornington Peninsula Shire

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