23 Lionel Road

Premium core infill tenanted investment with substantial rental reversion

JLL is pleased to exclusively present 23 Lionel Road, Mount Waverley - For Sale via Expressions of Interest Campaign Closing Thursday 12th of September 2024 at 4pm.

This premium industrial investment is occupied by one of Australia’s fastest growing and widely regarded coffee brands – Inglewood Coffee Roasters.

The land rich property is located within the blue-chip infill industrial precinct of Mount Waverley. Improved by an immaculately presented office/warehouse boasting rare rear yard and further potential for expansion or value-add opportunities (STCA*)

Property Highlights:
+ Immaculately presented and recently refurbished double storey office/amenities: 610sqm*
+ High-clearance (8.3m+) clear span warehouse: 1,250sqm*
+ Total building area: 1,860sqm*
+ Strategic land holding of 3,401sqm
+ Reticulated natural gas supply
+ Significant power supply
+ Large concrete rear yard approx. 1,000sqm*
+ Over 30 marked car spaces on site

The existing lease is assessed well below market due to substantial tenant works undertaken upon lease commencement + considerable rental growth in the sector and region.

Investment Highlights:
+ Secure lease to Inglewood Coffee Roasters
+ Entrenched tenant with strong fundamentals
+ Strong lease security via deposit and guarantees
+ Short WALE expiring July 2026 with further options
+ Significant reversionary upside with passing income 38% below market levels.
+ 4% annual rent reviews + market review mechanism at option period

For a copy of the information memorandum or to arrange an inspection, please contact the exclusively appointed sales agents at JLL.

*Approx.