Your email has been sent.
741-745 Whitehorse Rd - Quest Mont Albert 538 SF Office Condo Unit Offered at $296,531 in Melbourne, VIC 3102
Investment Highlights
- Located in Box Hill with close proximity to Box Hill Central, Box Hill Hospital, and major retail and dining amenities
- Leased to Quest Apartments, a reputable serviced apartment operator
- Excellent public transport connectivity with trains, trams, and buses nearby
Executive Summary
The property at 741-745 Whitehorse Road in Mont Albert operates as Quest Mont Albert, a serviced apartment complex. It is positioned along Whitehorse Road with proximity to Box Hill Central, Box Hill Hospital, and major retail and dining amenities. The location offers strong connectivity through tram and bus routes, with Mont Albert train station within walking distance. The property provides on-site amenities including a gymnasium, conference facilities, secure car parking, and in-room dining options. Services include on-site reception, business administration support, and housekeeping. Apartment configurations range from executive studios to two-bedroom executive apartments, all featuring separate living and dining areas, fully equipped kitchens, laundry facilities, and private balconies or courtyards. Nearby points of interest include Box Hill Institute, Aqualink Box Hill, Westfield Doncaster, and Melbourne CBD. Public transport options include tram route 109, bus route 284, and Mont Albert train station, with Tullamarine Airport approximately 35 kilometers away.
Property Facts
| Total Building Size | 16,419 SF | Floors | 4 |
| Property Type | Hospitality (Condo) | Typical Floor Size | 14,776 SF |
| Property Subtype | Serviced Apartment | Year Built | 2003 |
| Building Class | B | Lot Size | 0.47 AC |
| Total Building Size | 16,419 SF |
| Property Type | Hospitality (Condo) |
| Property Subtype | Serviced Apartment |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 14,776 SF |
| Year Built | 2003 |
| Lot Size | 0.47 AC |
Amenities
- Balcony
- Restaurant
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 49 | $133.78 | - |
1 Unit Available
Unit 51
| Unit Size | 538 SF | Cap Rate | 5.58% |
| Price | $296,531 | NOI | $16,550.58 |
| Price Per SF | $551.17 | No. Parking Spaces | 1 |
| Condo Use | Office | APN/Parcel ID | 51\PS446446 |
| Sale Type | Investment |
| Unit Size | 538 SF |
| Price | $296,531 |
| Price Per SF | $551.17 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 5.58% |
| NOI | $16,550.58 |
| No. Parking Spaces | 1 |
| APN/Parcel ID | 51\PS446446 |
Description
Ground-floor commercial office or reception space located in Box Hill, positioned near Box Hill Central, Box Hill Hospital, and local retail and dining amenities. It offers direct access to public transportation, including trains, trams, and buses.
The premises comprise approximately 50 square meters of internal floor area with an open-plan layout and include a secure car space on title. The property is currently leased to Quest Apartments under a secure agreement with a weekly rent of $485 and annual rent increases of 4 percent. The lease includes three additional five-year options.
Sale Notes
The asset is currently under a secure lease to Quest Apartments, a well-established serviced apartment operator. The lease includes annual rent increases of 4 percent and provides three additional five-year options, offering long-term income stability. Outgoings include council rates, owners corporation fees, and water rates as specified in the lease documentation.
Outgoings include council rates of approximately $1,071 per annum, owners corporation fees of approximately $2,627 per annum, and water rates of approximately $743.98 per annum. The property is presented as a low-maintenance investment with a long-term corporate tenant in a high-demand location.
This property represents an investment opportunity in a high-demand metropolitan area with strong transport links and established commercial activity.
Interior photo of lobby at 51/741 Whitehorse Road
Interior photo of lobby at 51/741 Whitehorse Road
Interior photo of space at 51/741 Whitehorse Road
Presented by
741-745 Whitehorse Rd - Quest Mont Albert
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.