Teska Carson Director, George Takis is marketing a telecom tower investment with a 20 year lease at Footscray in Melbourne’s inner western suburbs. The property will be auctioned on Thursday, April 29, at 11am on site.

Located at 6 Whitehall Street, 100 metres north of Hopkins Street, the property comprises a telecommunications tower on a 43.9 square metre site zoned Activity Centre (ACZ). The zoning aims to encourage a mixture of uses including intensive development and focussing on business, apartments, shopping, leisure, transport and community facilities.

The property is leased to independently owned wireless infrastructure provider, Axicom Pty Ltd on a 20 year term from June 2020, at a current rental of $70,917 per annum - paid 12 months in advance - with 6% annual increases.

According to marketing agent, Teska Carson Director, George Takis, the property presents as an outstanding investment opportunity.

Mr Takis said the property’s key attributes included:

• Activity centre zoning and location;
•  20 year lease;
•  6% annual increases;
• Rental paid 12mths in advance;
• Close proximity to Melbourne CBD.

“This really is a rare investment opportunity providing the new owner with a very secure lease, over a long term with annual rental increases of 6% and rental paid yearly in advance.”

“The property also offers an unrivalled location in the middle of an activity centre which has shown exceptional growth in recent times and, as an inner city locale just a few kilometres from the CBD, looks likely to maintain a healthy level of growth at least in the short to medium term,’’ Mr Takis said.  

Footscray is one of the most rapidly developing suburbs in metropolitan Melbourne as a direct consequence of the policies of the Victorian State Government and Maribyrnong City Council in promoting the precinct as an ideal city fringe location.

Located just five kilometres from Melbourne’s CBD and on the banks of the Maribyrnong River, Footscray’s population is expected to double over the next 20 years driving continued commercial and residential development.

Designated as a principal activity centre, Footscray’s potential has been recognised as the future western arm of the Melbourne CBD, extending both the employment and residential capacity of the city’s heart.  

To request a copy of the Information Memorandum please email the marketing agent George Takis of Teska Carson via the contact form below. 

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