A Strong Case For Investment in Werribee

A prime investment opportunity in the thriving Werribee Principal Activity Centre is going to auction in September.

Fitzroys agents Chris James and Max Uzunovski are marketing 65 Watton Street, Werribee on behalf of a private vendor, with the auction scheduled for Thursday, 17 September at 12pm.

The property comprises a single-level 175sqm retail and commercial building with reception, office accommodation and amenities, on 342sqm of land with rear car parking via Rushford Lane.

It is offered with a recently renewed 3 x 3-year lease to leading legal firm Carbone Lawyers, which has 7 locations across Victoria. Current return is $79,302pa plus GST, with all usual outgoings recovered from the tenant.

On a 342sqm site with highly sought after Activity Centre Zoning, the property is in a prime retail trading position on Watton Street and amongst major retailers including Chemist Warehouse, NAB, ANZ, The Park Hotel and more, and is just moments from Werribee Train Station.

“Sustained population growth and ongoing precinct investment underpin excellent future prospects for this offering,” James said.

According to demographics research house ID, Werribee’s population growth is expected to surge by more than 52% over the next 20 years, from 57,914 currently to nearly 88,000 in 2046.

“Investors have the chance to acquire an asset leased to a successful, high-calibre tenant in a prime location in the key retail and commercial hub of Melbourne’s south-west, which is only going to see soaring demand in the coming years, supporting trade and activity,” James said.

Uzunovski said the property presented value-add players and developers with opportunities in the longer term.

“The Werribee Principal Activity Centre allows for building heights of up to 26m, offering a range of options for the buyer to add to the property (STCA).

“An incoming buyer can receive a strong income stream from a quality tenant while assessing their options for the future.”