Two active Melbourne police stations are up for sale, offering investors and developers a unique opportunity to acquire properties leased to Victoria Police. The properties, located in Narre Warren and Mill Park, are listed by industry super fund ISPT, known for its diverse portfolio that includes law courts and police stations.
With sales ranges of $8.5m-$9m and $9m-$9.5m respectively, these properties are not your typical commercial listings. The Narre Warren address covers 3619sq m and yields $615,688 in net rent annually, while the Mill Park property spans 6173sq m and generates $648,654 yearly.
CBRE agents are managing the sale, highlighting the rarity of active police stations hitting the market. The lease on these properties is set to expire in August 2025, opening up possibilities for renewal or redevelopment. The buildings, primarily administrative in nature, could be reconfigured or repurposed to suit future tenants.
Interest in these unique offerings has surged, drawing attention from local and interstate groups comprising developers, investors, and owner-occupiers. The appeal lies in the secure tenancy, substantial land holdings, and prime locations with main road frontage, presenting long-term development potential.
Expressions of interest for these police stations close on June 22, attracting a diverse range of potential buyers eager to capitalize on the opportunity. The properties’ proximity to essential amenities and strong ESG credentials make them attractive investments in the evolving real estate landscape.
As the market evolves, there is a growing interest in properties tied to social infrastructure, aligning with investors’ desire to enhance their portfolios’ sustainability. The robust investment case for these police stations lies in their replacement value and future prospects, making them a compelling choice for savvy investors looking to diversify their holdings.
While most individuals aim to avoid police stations, these properties offer a unique investment proposition that has captured the attention of discerning buyers seeking secure, income-generating assets. With a deadline looming for expressions of interest, the sale of these police stations is set to draw significant interest from a wide range of potential buyers eager to secure a piece of Melbourne’s real estate market.
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