26-28 Kilkenny Ct 18,923 SF Industrial Building Dandenong South, VIC 3175 $3,281,449 ($173.41/SF) 4.30% Cap Rate

26-28 Kilkenny Court presents a fully leased, income-generating industrial investment in the thriving South-East Melbourne industrial corridor. The property is secured by a 5-year lease to ATF Services, a market leader in temporary fencing and height safety solutions, with tenure until February 2027 and an additional 5-year option. Current net income is $197,946 p.a., equating to a 4.3% passing yield at the $4.6 million price point, with significant uplift expected at the upcoming market review. Forecast adjustments could increase yield to between 5.35% and 5.74%, offering strong investor upside in a land-constrained precinct.
The asset features a modern tilt-up concrete construction with recent refurbishments, eliminating near-term capital expenditure. A secure, well-configured yard provides excellent truck access and maneuverability. Positioned in Melbourne’s premier logistics hub, the property offers seamless connectivity to major arterials including the Princes Highway, EastLink, Monash Freeway, and the South Gippsland Freeway. Investors benefit from low vacancy levels in the Dandenong South industrial market and long-standing tenant commitment since 2009, making this property a compelling opportunity for secure income and future capital growth.