Northland

Corner Murray Road & Chifley Drive, Preston, VIC, 3072

Property Description

The property is located in the suburb of Preston, approximately 10 kilometres north of the Melbourne central business district. Relatively densely populated residential areas provide the primary catchment. In August 2005 the property was upgraded at a cost of $2.92 million. In June 2013 a second upgrade of the property was completed at a cost of $875,128. This upgrade included an expanded goods inward yard and a new materials yard canopy. The property is positioned opposite the Northland shopping centre, and near the Northland Homemaker Centre. Industrial uses adjoin the property to the south. The Northland shopping centre acts as a major transport node for bus services, which provide a link with railway lines approximately three kilometres east and west of the property. Bunnings is expected to relocate to a newly constructed store in late 2022. We are currently considering rezoning/redevelopment options.

Land area

33,120 m²

The total GLA/retail area

13,006 m²

Bunnings lease commencement date

24/9/1998

Total Property Cost

$13,274,066

Current valuation

$32,500,000

Annual Rent

$2,029,869

Property Location

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