Description

Vend Property was pleased to offer 9 Locke Lane, Ellenbrook in Western Australia for sale by Private Treaty which sold on the 26th of June 2020 for $3,325,000.

9 Locke Lane, Ellenbrook comprises of a standalone building with a ten (10) year lease to an ASX listed international retailer, Super Retail Group trading as Supercheap Auto.

KEY INVESTMENT CONSIDERATIONS:

• Freestanding Supercheap Auto Showroom.

• Prominent location with exposure to The Promenade.

• Ten (10) year lease to Super Retail Group (ASX listed).

• Completed in 2014 and built to tenant’s requirements.

• Guaranteed Growth: Annual Fixed 3.5% increases. Next due 6th October 2020

• Net Lease: Lessee pays Single Holding Land Tax, Council Rates, Water Rates and all Variable outgoings and running costs.

• 29 exclusive vehicle bays.

• Significant taxation depreciation benefits. 

LOCATION

Ellenbrook is a north eastern suburb of Perth located 21 kilometres from the Perth CBD with access via Gnangara Road, Main Street and The Promenade. Ellenbrook was estimated to have a population of over 51,031 people as at the 2016 Census and the wider catchment area, City of Swan, is estimated to have a population of over 147,000 people as at 2019.

The subject property benefits from the newly completed NorthLink WA extension which is a long-term vision to cater for the traffic volumes associated with a future Perth population of 3.5 million people. The Federal and State Government have invested $1.12 billion in the project.

More specifically, the subject property is located on Locke Lane which is accessed via the main road The Promenade. Locke Lane is also linked to Comserve Loop so there is two points of entry for the property.