OFF MARKET

13-15 Cherry Lane
Laverton North VIC 3026

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 14092m2
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Property Details for 13-15 Cherry Lane, Laverton North

Building Type
Commercial
Land Size
14092m2
Local Government
Wyndham
Lot/Plan
1/TP908219

Last Listing description (September 2020)

JLL are pleased to offer the opportunity to purchase this exceptional investment opportunity offering reliable long-term income in a core Western Melbourne industrial precinct.

The property comprises a significant and strategic land holding of 14,189m2 situated to the southern side of Cherry Lane and extending through to provide an extensive 140 metre frontage to Princes Freeway. The asset is subject to a new 10 year lease expiring 2030 to global company McConnell Dowell (subsidiary of Aveng a publically listed company on the Johannesburg Stock Exchange) on a triple net basis with exceptional fixed rental growth of 3.5% p.a.


Key investment highlights include:

- New 10 year lease with options
- Fully leased to globally recognised tenant McConnell Dowell, a subsidiary of public company listed on the Johannesburg stock exchange (Aveng)
- Fixed annual 3.5% rental increases throughout the term of the lease
- Rental income of $360,000* p.a. net
- Triple Net lease structure
- Building area of 2,570* square metres
- Significant and strategic land holding of 1.4* hectares
- Outstanding exposure 140 metre frontage to Princes Freeway, with 166,000 vehicles passing the site daily (source: VicRoads)
- Core Western industrial precinct approximately 15kms from Melbourne CBD
- Excellent connectivity to major road infrastructure, Port of Melbourne and Melbourne International Airport
- Modern improvements constructed circa 2009
- Future development potential given low site coverage of approximately 18%
- Significant infrastructure spend to further enhance the precinct including the Westgate Tunnel Project
- High underlying land value underpins the asset
*approx.

For Sale by Expressions of Interest
Wednesday Wednesday 18 March 2020 at 4pm AEDT

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Property History for 13-15 Cherry Lane, Laverton North, VIC 3026

A timeline of how this property has performed in the market
Last Sold
$7,350,000
23 Mar 2020
  • 23 Mar 2020
    Sold for $7,350,000
  • 19 Feb 2020
    Listed for Sale Contact Agent
  • 19 Jan 1984
    Sold for $245,000
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About Laverton North 3026

The size of Laverton North is approximately 15.4 square kilometres. It has 7 parks covering nearly 12.2% of total area. The population of Laverton North in 2011 was 94 people. By 2016 the population was 54 showing a population decline of 42.6% in the area during that time. The predominant age group in Laverton North is 60-69 years. In general, people in Laverton North work in a machinery operators and drivers occupation. In 2011, 39.6% of the homes in Laverton North were owner-occupied compared with 32.6% in 2016..

Laverton North has 1,320 properties. Over the last 5 years, Houses in Laverton North have seen a 41.62% increase in median value. As at 30 November 2024:

  • The median value for Houses in Laverton North is $761,839 while the median value for Units is $615,952.
There are currently 5 properties listed for sale, and 3 properties listed for rent in Laverton north on OnTheHouse. According to CoreLogic's data, 31 properties were sold in the past 12 months in Laverton north.

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