20 Heaths CourtMill Park VIC 3082
Property Details for 20 Heaths Ct, Mill Park
Last Listing description (June 2019)
JLL are pleased to offer the opportunity to purchase this exceptional investment opportunity offering reliable long-term income and a multitude of higher and better use future redevelopment options.
The property comprises a significant and strategic land holding of 24,414m2 situated within a land constrained market. The site is zoned Commercial 2 creating a range of higher order development opportunities in the future. The asset is subject to a 15 year lease expiring April 2033 to ASX listed company Food Revolution Group (ASX:FOD) with the lease providing fixed rental growth of 3.0% p.a.
- Long term lease with 14.1 year WALE (as at 1 March 2019)
- Fully leased to ASX listed tenant Food Revolution Group (ASX:FOD)
- Fixed annual 3% rental increases throughout the term of the lease
- Rental income of $764,569* p.a. net (as at April-19)
- The tenant has invested significant capital in the facility in recent times, demonstrating their commitment to the site
- Building area of 11,420* square metres
- Significant and strategic land holding of 2.4* hectares within land constrained market
- Commercial 2 zoning providing a multitude of future uses for the site
- Major recent capital works have been undertaken including full office refurbishment
- Excellent connectivity to Melbourne CBD and Melbourne International Airport
- Retail amenity nearby Woolworths anchored neighbourhood shopping centre next door, Westfield Plenty Valley approximately 1.2kms North-West
- High underlying land value underpins the asset
*approx.
FOR SALE VIA AN EXPRESSIONS OF INTEREST CAMPAIGN CLOSING 7 MARCH 2019 AT 4:00PM (AEDT)
For further information or to arrange an inspection please contact myself Adrian Rowse (+61 414 836 817) Tony Iuliano (+61 412 992 830) or Charlton Holmes (+61 439 334 154).
Property History for 20 Heaths Ct, Mill Park, VIC 3082
- 01 May 2022Sold for $20,000,000
- 22 Mar 2019Sold for $12,750,000
- 11 Feb 2019Listed for Sale SOLD - Price Withheld
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0About Mill Park 3082
The size of Mill Park is approximately 12.8 square kilometres. It has 60 parks covering nearly 18.3% of total area. The population of Mill Park in 2016 was 29710 people. By 2021 the population was 28712 showing a population decline of 3.4% in the area during that time. The predominant age group in Mill Park is 50-59 years. Households in Mill Park are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mill Park work in a professional occupation.In 2021, 74.80% of the homes in Mill Park were owner-occupied compared with 76.30% in 2016.
Mill Park has 12,075 properties. Over the last 5 years, Houses in Mill Park have seen a 25.01% increase in median value, while Units have seen a 25.41% increase. As at 28 February 2026:
- The median value for Houses in Mill Park is $907,717 while the median value for Units is $551,842.
- Houses have a median rent of $550 while Units have a median rent of $500.
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