Fountain Gate

Project Description

The property is situated on the eastern side of Narre Warren North Road, approximately 38 kilometres south-east of the Melbourne central business district. Fountain Gate and the adjoining suburbs of Narre Warren and Berwick form part of a residential area that has been progressively developed since the 1980's. Land subdivision and new housing is occurring to the north and east of the property. The property is located between the Monash Freeway and Princes Highway both of which provide access to the Melbourne central business district. Narre Warren railway station is located on the southern side of Princes Highway and there is also a bus service operating in the area. To the western side of Narre Warren North Road is Fountain Gate shopping centre, which includes a K-Mart, Target, Safeway, Coles and specialty shops. Also in close proximity are a number of fast food restaurants, service retail and other large format retail outlets, a medical centre, the municipal offices and other community facilities.

* Rent review outcome pending

Land area

32,350 m²

The total GLA/retail area

12,624 m²

Lease Commencement Date

24/9/1998

Total Property Cost

$10,531,144

Current valuation

$28,800,000

Annual Rent

$1,727,538 *

Project Location

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