910T Thompsons RoadCranbourne West VIC 3977
Property Details for 910t Thompsons Rd, Cranbourne West
Last Listing description (January 2021)
Stonebridge Property Group is pleased to present for sale the BP Westernport Service Centre, a once in a generation opportunity to acquire the most strategically located service centre in the south-eastern corridor of Melbourne. Situated on the highly trafficked corner of Westernport Highway and Thompsons Road, leased to three (3) strong performing international and national brands, the asset represents a highly secure investment opportunity where income growth is underpinned by consistent growth in population and increased traffic flow.
We detail several key investment highlights below:
+ Leased to three (3) international and national tenants - BP, Carls Jr and Red Rooster
+ Significant land holding of almost 2 hectares, with future opportunity for expansion and development
+ The most strategic convenience position in the south east of Melbourne corner of Westernport Highway and Thompsons Road
+ Benefiting from significantly increased traffic flows following the recent Thompsons Road duplication and signalised intersection with Westernport Highway
+ A total of 275 metres* of frontage to the major thoroughfares, carrying a total of 69,000^ passing cars per day
+ The asset has undergone a recent major refurbishment, providing substantial depreciation benefits and minimal capital expenditure requirements
+ Fixed annual rental increase to all tenants, with the income estimated to grow 40% over a 12 year investment horizon
+ Offering separate high revenue truck refuelling facilities with a dedicated diesel forecourt and canopy
+ Long WALE of 10.7 years*
+ Net Annual Income of $1,016,365 All tenants are on NET leases
*approximately
^VicRoads
Expressions of Interest Closed Multiple Offers Received
Justin Dowers
0438 098 805
Kevin Tong
0422 848 818
Philip Gartland
0403 582 324
Property History for 910t Thompsons Rd, Cranbourne West, VIC 3977
- 12 Jun 2024Sold for $16,300,000
- 22 Dec 2020Sold for $20,317,035
- 16 Nov 2020Listed for Sale Contact Agent
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0About Cranbourne West 3977
The size of Cranbourne West is approximately 11.8 square kilometres. It has 23 parks covering nearly 10.1% of total area. The population of Cranbourne West in 2011 was 8,743 people. By 2016 the population was 15,046 showing a population growth of 72.1% in the area during that time. The predominant age group in Cranbourne West is 30-39 years. Households in Cranbourne West are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cranbourne West work in a trades occupation. In 2011, 72.3% of the homes in Cranbourne West were owner-occupied compared with 76% in 2016.
Cranbourne West has 8,961 properties. Over the last 5 years, Houses in Cranbourne West have seen a 35.27% increase in median value, while Units have seen a 31.46% increase. As at 31 October 2024:
- The median value for Houses in Cranbourne West is $724,209 while the median value for Units is $548,825.
- Houses have a median rent of $570 while Units have a median rent of $540.
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