12 Castlereagh Street

Carrum Downs VIC 3201

Bespoke construction and refurbishment across all homes has occurred with regular maintenance minimising immediate CAPEX expenditure.

With a 60% shortfall in disability housing as at Oct-2023, the demand for this essential service has never been greater with the strength of long-term demand prospects unquestionable.

+ Valuable NDIS compliant improvements of 230 sqm* with recent CAPEX expenditure to ensure minimal long-term maintenance costs

+ Land rich opportunity with a notable underlying landholding of 610sqm*

+ Leased to ACARES (Subsidiary of Zenitas Healthcare) leading Australian provider of disability, aged care, and health services and owned by a notable consortium of private equity capital

+ Annual income of $73,191 pa* plus outgoings with fixed annual 3.5% increases

+ Ten (10) year lease term plus two (2) further ten (10) year options to 2051

LOCATION

+ 77% of Victorian Disability Accommodation participants live within the City of Frankston (source: ndis.gov.au)

+ High density residential area within immediate proximity to key essential services and amenities such as Skye Medical Centre (250m*) and Carrum Downs Regional Shopping Mall (1km*)

+ Well connected to public transport with multiple bus stops plus positioned 2.7km* from the Peninsula Link, connecting to major Melbourne arterial roadways

+ High growth median house price location with Carrum Downs having seen a 107% increase in past 10 years (currently $750,000)

+ Essential shopping services include Woolworths, Kmart, Priceline Pharmacy, as well as restaurants & cafs, complimented with ample parklands

FOR SALE VIA EXPRESSIONS OF INTEREST CLOSING Thursday 23rd November 2023 at 2:00pm (AEST)

For further information, contact the exclusive sales agents

Marcello Caspani-Muto
+61 417 065 777

Sandro Peluso
+61 418 389 757

Jimmy Tat
+61 439 399 118

*approx.