A leased transport depot will be offered for sale in Melbourne’s industrial heart by public tender closing with Sutherland Farrelly Wednesday 28 June 2006 at 3:00 pm.
The property situated at 8-42 Simcock Avenue, Spotswood comprises a large allotment of approximately 1.585 hectares (3.916 acres) and improvements consist of an administration building, two truck servicing/washing buildings and extensive hardstand.
The property has around a 101 metre frontage to Simcock Avenue and is in easy reach of Swanson Dock, Docklands Highway and the West Gate Freeway.
The property is leased to the Cootes Transport Group for a five year period with a three year option commencing 25 January 2005 at a rental of $206,250 per annum plus GST.
Paul Farrelly said the property provides an outstanding opportunity, noting the existing Lease, significant underlying land value and proximity to the Melbourne Docks and CBD.
Sutherland Farrelly expects a price around $2.5 million.
By Adam Parsons
