Teska Carson is marketing a ANZ bank leased retail investment at Oakleigh in Melbourne’s south-east. 40-42 Atherton Road Oakleigh for sale by Teska Carson Directors George Takis and Michael Taylor. 

The property is for sale by Expressions of Interest closing Wednesday, September 1, at 3pm.

Located at 40-42 Atherton Road within Oakleigh’s key retail and commercial precinct, the property comprises a double fronted, 278 square metre retail space which benefits from

10.5 metres street frontage, an abundance of on-street parking, and a large council carpark in the immediate vicinity.

The vibrant commercial/retail precinct includes numerous retailers with Woolworths, Coles, Liquorland, all major banks, and Chemist Warehouse, among others.

The property will be sold subject to a 10 year lease, with options, to ANZ, at a current rental of $99,555 per annum net with 5 per cent annual increases.

According to marketing agents, Teska Carson Directors George Takis and Michael Taylor, the property represents one of the best investment opportunities to come to the market in Oakleigh in recent times.

“This is an exceptional property in a street which has proven to be highly desirable for both owner-occupiers and investors for its popularity and comprehensive retail and commercial offering in an increasingly high density residential region.

“Oakleigh, with its proximity to the bayside and other lifestyle attractions including some of Melbourne’s best golf courses, has been a magnet for those seeking an address with all the essential amenities within relatively easy commuting distance of Melbourne CBD,’’ Mr Takis said.

Mr Taylor said Atherton Road was a vibrant and prosperous shopping strip that offered a vast range of quality retail shops and eateries, intermingled with professional service providers. He said the area was also well served by transport options including Oakleigh train station, which is within walking distance, the Princes Highway and the Monash Freeway.

“The local area really has everything going for it in terms of the requirements of a modern residential population and this commercial/residential precinct along Atherton Road has been the beneficiary,’’ Mr Taylor said.    

He said he expected strong interest from investors looking to add a modern, well-presented, asset which could offer a blue-chip tenant, in a location with excellent growth prospects.

“This is one which will attract broad investor enquiry given its high-level investment credentials,’’ he said.

Michael Taylor said the property’s key attributes included:

• Secure lease with blue-chip tenant;
• Excellent growth potential;
• Income of nearly $100,000 per annum
• Strong, tightly held location; and,
• Easy access to all amenities including public transport.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.