311 – 327 Princes Drive & 13 Wicks Crescent, Morwell VIC 3840
Exceptional Commercial Investment Prospect - Featuring a 1.7ha (approx.) Site
Key Highlights:
• Secure Lease: Established 25-year lease until 2028, with expansive 4 x 10-year renewal options extending to 2068.
• Triple Net Lease: Tenant covers all outgoings and maintenance.
• Income Details: Net revenue of $168,261 perannum plus GST plus Outgoings, Operated by ALH, Australia’s premier pub operator, 85.4% owned by Endeavour Group.
• Prime Location: Situated in Morwell (part of Latrobe City total population 75,000), the administrative heart of the City of Latrobe, only 145km east of Melbourne, on the sought-after Princes Drive (Old Princes Highway).
• Extensive Land with Development Potential: Generous 18,290sqm (approx.) site with room for future development (subject to council approval).
• Comprehensive Facilities: Includes a public bar for 100 patrons, a bistro for 140 patrons, a children’s playzone, a TAB area, and a gaming room. The site also features a 19-bedroom motel and a bustling drive-thru BWS.
• Financial Stability: Features annual CPI rent adjustments and market reviews at each option period.
• Effortless Management: Simplified with a single, reliable tenant.
Public tender closing date: Thursday 24th October at 4pm.
Terms: 10% Deposit, Balance 60 Days
For tender documents please email jim.demetrios@stockdaleleggo.com.au
Contact Our Marketing Agents for More Information:
– Jim Demetrios: 0419 335 271 jim.demetrios@stockdaleleggo.com.au
– George Demetrios: 0413 776 303 george@stockdaleleggo.com.au