Large Infill Land Holding with Redevelopment Opportunity and Large Rental Income
Ray White Ballarat are proud to offer for sale 209-211 Gillies Street North, Wendouree. This asset represents an opportunity to acquire a strategically rare infill parcel offering holding income with significant redevelopment potential STCA. The site has a combined site area of 20,961m2* with existing improvements, offering multiple development opportunities leveraging off the growing trade area STCA. This represents a rare opportunity to secure a prime infill land parcel with significant value add opportunities plus income in one of Victorias fastest growing locations.
Key Features:
- High profile freehold investment in one of Ballarats busiest intersections
- Expansive 20,961m2* corner land holding
- Leased to a multinational car dealership expiring in April 2025 with options to 2035
- A variety of other small warehouses separately leased
- Annual rental income of $1,335,000*
- Annual compounding rent reviews - tenants pay outgoings as per the lease
- Two titles, one of 9,021m2* and the other 11,940m2*
- Located within the core of the Wendouree Activity Centre, marked as a high growth area for future employment
- Situated within the proposed Wendouree Railway Station Precinct master plan, providing a framework for future development
- Ballarat population forecast to grow 24% to over 144,000 by 2036^
Expressions of Interest closing 9/12/2022 at 2pm. Contact Sam Borner 0439 655 509 and enquire today to receive the Information Memorandum and other relevant documentation.
* Approximately
^ https.//forecast.id.com.au/ballarat
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