SOLD
Sold on 06 Dec 2023 for $4,000,000

6 Prospect Place
Boronia VIC 3155

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 2000m2
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Sold By
Jarrod Moran
CVA PROPERTY CONSULTANTS PTY LTD
Stan Dawidowski
CVA PROPERTY CONSULTANTS PTY LTD
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Property Details for 6 Prospect Pl, Boronia

Building Type
Commercial
Land Size
2000m2
Local Government
Knox
Lot/Plan
25/PS713425

Last Listing description (November 2023)

POINT OF INTEREST:
A modern industrial facility with a national long term tenant; this flagship investment can be put on your portfolio-shelf to only get better with age. The package includes a generous 2,000 sqm* of land, with a 1,329 sqm* state-of-the-art building on top. The two-level office and clear-span warehouse also includes mezzanine storage and 22 car spaces on-site accommodating both staff and visitors. Workspace isnt in short supply; there are open plan areas and glass partitioned offices on the ground and first floor, with a large boardroom upstairs and plenty of natural light coming through the buildings glass facade. The warehouse features a high internal clearance, two motorised roller doors, and additional mezzanine storage.

Industrial by name, but not by aesthetic the fixtures, fittings, amenities and kitchenettes (located on each level) have all been designed with first impressions in mind. The asset is already occupied and appreciated by an industry-leading tenant, Number 1 (Australia), a distributor of natural pet products locally sourced from Australia and New Zealand. Naturally, theyre fans of the fact that the Dorset and Canterbury Road intersection is only 1.5 km* away, and the Eastlink is just a ten-minute drive to get to.

INVESTMENT DETAILS:
- Leased to Number 1 (Australia) Pty Ltd.
- $176,505 p.a + GST and outgoings from 1st September 2023.
- 5 year + 5 year lease from 1st September 2021.
- Annual increases + market review at option.

PROPERTY DETAILS:
- 2,000 sqm* total land area.
- 1,329 sqm* total building area.
- Incl. 598 sqm* of office space.
- Incl. 602 sqm* of warehousing.
- Incl. 129 sqm* of mezzanine storage.
- Solar panels and security system.
- 22 allocated car spaces on-site.
- 1.5 km* to Canterbury Road.
- 7 km* to the Eastlink.

POINT OF VIEW:
New financial year, new financial targets. And with a standout asset returning $176,505 in rental income from 1st September 2023, this is a portfolio addition that will see your FY24 goals peak by August.

*Approx.
Pricing excludes GST

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Property History for 6 Prospect Pl, Boronia, VIC 3155

A timeline of how this property has performed in the market
Last Sold
$4,000,000
06 Dec 2023
Listed for Rent
$3.22k/w
06 Sep 2021
  • 06 Dec 2023
    Sold for $4,000,000
  • 20 Jul 2023
    Listed for Sale Contact Agent
  • 23 Jun 2021
    Listed for Sale $3,750,000.00
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About Boronia 3155

The size of Boronia is approximately 11.3 square kilometres. It has 36 parks covering nearly 7.8% of total area. The population of Boronia in 2011 was 20,825 people. By 2016 the population was 22,190 showing a population growth of 6.6% in the area during that time. The predominant age group in Boronia is 30-39 years. Households in Boronia are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Boronia work in a professional occupation. In 2011, 73.1% of the homes in Boronia were owner-occupied compared with 70.8% in 2016.

Boronia has 13,094 properties. Over the last 5 years, Houses in Boronia have seen a 16.30% increase in median value, while Units have seen a 11.83% increase. As at 31 October 2024:

  • The median value for Houses in Boronia is $820,481 while the median value for Units is $631,739.
  • Houses have a median rent of $550 while Units have a median rent of $520.
There are currently 66 properties listed for sale, and 27 properties listed for rent in Boronia on OnTheHouse. According to CoreLogic's data, 494 properties were sold in the past 12 months in Boronia.

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