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Overview
3 SUPER PRIME CAR PARK INVESTMENTS – 452 ST KILDA RD, 1 QUEENS RD AND 480 COLLINS ST, MELBOURNE
This offering presents a unique opportunity to acquire a high-yielding car park investment portfolio comprising three prime locations in Melbourne's CBD and St Kilda Road precincts. The portfolio is available for sale either as a single line or as three separate lots, providing flexibility for investors.
The combined investment features blue-chip locations with strong tenant covenants and secure cash flow. The portfolio benefits from ultra-low maintenance requirements and a weighted average lease expiry (WALE) of 5.4 years, ensuring long-term income stability.
Key highlights of the combined portfolio include a net income of approximately $2,045,707 per annum, with land tax and all levies payable by the tenant. The portfolio encompasses a total of 677 car parking bays along with numerous storage areas, with capacity to accommodate up to 840 vehicles. This makes it an ideal post-COVID investment with excellent diversification and growth prospects.
The individual investments within the portfolio are detailed as follows:
- 452 St Kilda Road, Melbourne: Located within the Blackman Hotel, this site offers 80 car parking bays plus storage units. It generates a net income of $356,138 per annum under a six-year lease.
- 1 Queens Road, Melbourne: Situated in Queens Road Towers in the heart of the St Kilda Road precinct, this asset features 523 car park bays and 61 storage units, with capacity for up to 650 cars. It produces a net income of $1,174,114 per annum with a six-year lease.
- 480 Collins Street, Melbourne: Positioned in the new centre of Collins Street among prominent buildings such as Collins Arch, Olderfleet, and Rialto Towers, this car park is the only one with direct entry from Collins Street. It includes 74 car parking bays with capacity for 110 cars and generates a net income of $515,455 per annum under a six-year lease.
This portfolio represents a rare chance to invest in well-located, fully leased car park assets with strong income and growth potential in Melbourne's key commercial precincts.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Melbourne VIC 3004
Measurements
| Type | Dimensions |
|---|---|
| Floor Area | 1000 m² |
Market Insights for Melbourne VIC 3004
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