The Perfect Commercial Investment
- New 5 year lease
- Circa 7% net yield
- Superb covenant
Set in a garden location, this office and mixed-use complex sits on a 2.3-hectare site on the edge of the Mornington Peninsula Freeway in the heart of Dingley Village. It is located in a well-known business centre with an on-site restaurant and cafe and is surrounded by established retail and food operators including Costco and The Dingley International Hotel.
Suites 9 and 10 combine to total 531m2 of pristine office, which has enjoyed a recent total refit giving the space a rejuvenation that will complement it for years to come. There are separate offices and meeting rooms, and a central, open-plan working space. There is plenty of natural light, a modern kitchen and break out areas. There are also multiple pedestrian access points from both the car-park and the front of the building.
The tenant, ABK Joint Venture, is a collaboration of Abergeldie Contractors, BMD Constructions, and Kellogg Brown & Root who have been engaged to build and maintain the Dingley Recycled Water Scheme. This is a strategic partnership appointed by South East Water as an integrated Capital Works Planning and delivery partner for a 10-year, $1.5 billion investment program across Melbourne’s south-east. They have also made a significant investment into their new fit-out within the tenancy.
• Annual Rental: $130,000 net
• Lease Term: 5.5 years
• Commencement: 15/12/2025
• Options: 3 years
• Outgoings: Paid by the tenant (Including land tax)
• Annual Reviews: 3%
• Security: $65,000 by way of bank Guarantee
