INFORMATION MEMORANDUM 375 ROOTY HILL …...375 Rooty Hill Road, Oakhurst is being offered for sale of Expression of Interest or Forthcoming Auction at the office of Knight Frank,
Post on 04-Jul-2020
1 Views
Preview:
Transcript
INFORMATION MEMORANDUM
375 ROOTY HILL ROAD, OAKHURST
FEBRUARY 2015
Page 2
Information Memorandum – 375 Rooty Hill Road, Oakhurst
CONTENTS
Introduction 3
Executive Summary 4
Location 5
Zoning Objectives 6
Tenancy Details 7
Sales Process 8
Contact Details 9
Disclaimer 10
Annexure 1 - Expression of Interest Form
Page 3
Information Memorandum – 375 Rooty Hill Road, Oakhurst
INTRODUCTION
Knight Frank is pleased to offer 375 Rooty Hill Road, Oakhurst For Sale by Expression of Interest.
The property presents an excellent opportunity to invest and enjoy capital and security of a national tenant in Oporto.
The property will be sold via Expressions of Interest and/or Forthcoming Auction.
Page 4
Information Memorandum – 375 Rooty Hill Road, Oakhurst
EXECUTIVE SUMMARY
Address 375 Rooty Hill Road, Oakhurst NSW.
Zoning Residential 2(a) to be rezoned R2 Low Density Residential under Blacktown LEP 2013
Title Description Lot 12 in Deposited Plan 550172
Building Area 185sqm plus drive through area.
Land Area 1,467sqm.
Local Authority Blacktown City Council.
http://www.blacktown.nsw.gov.au
Location The property is located on the north-western corner of Rooty Hill Road North and
Jersey Road at Oakhurst, some 44 kilometres north-west of the Sydney CBD. It is
located on a prominent corner position on the border of Plumpton about
3 kilometers north of Rooty Hill shopping centre and railway station.
Tenure The property, leased to a franchise company for an initial 10-year term with 2 x 5-year
options from 19 November 2009 with a current net rent of $203,958 p.a.
Contract Available upon request
Method of Sale Expressions of Interest and/or Forthcoming Auction
Auction Date To be advised
Time To be advised
Selling Agent Terry Hassan
Associate Director, Sales and Leasing
Knight Frank Australia Pty Ltd
Suite 7, Level 1
72-74 Bathurst Street
Liverpool NSW 2170
T: 61 2 9761 1834
M: 0428 885 088
E: Terry.Hassan@au.knightfrank.com
Page 5
Information Memorandum – 375 Rooty Hill Road, Oakhurst
LOCATION
Boundary Indicative only
The property is located on the north-western corner of Rooty Hill Road North and Jersey Road at Oakhurst, some
44 kilometres north-west of the Sydney CBD.
The property is located on a prominent corner position on the border of Plumpton about 3 kilometres north of
Rooty Hill shopping centre and railway station.
Both Rooty Hill Road North and Jersey Road are busy thoroughfare roads with Plumpton Marketplace (Woolworths
and Big W) about 600 metres west. The M7 Motorway runs parallel to Rooty Hill Road North with the property
between nearby junctions with Richmond Road and Powers Street. Marsden Park is also 5 minutes drive away.
Surrounding development is mainly modern single dwellings and townhouses.
Page 6
Information Memorandum – 375 Rooty Hill Road, Oakhurst
ZONING OBJECTIVES
Zone No 2 (a) (Residential “A” Zone)
1 Objectives of zone
The objectives are:
(a) to make general provision to set aside land to be used for the purpose of housing and associated facilities
(b) to identify existing residential areas of a predominantly single dwelling character, and to maintain that character by prohibiting residential flat buildings
(c) to enable sensitive infill development of other housing types if the infill development is of a bulk, scale and appearance that does not adversely impact on adjoining development or the amenity of the locality
(d) to enable development for a variety of housing forms, including townhouses, villas, integrated housing, dual occupancies and the like, if such development does not interfere with the amenity of surrounding residential areas by way of overshadowing, overlooking, or loss of privacy
(e) to allow people to carry out a reasonable range of activities from their homes, where such activities are not likely to adversely affect the living environment of neighbours, and
(f) to allow within the zone a range of non-residential uses which:
(i) are capable of visual integration with the surrounding environment
(ii) either serve the needs of the surrounding population or the needs of the City of Blacktown without conflicting with the basic intent of the zone, and
(iii) do not place demands on public services beyond the level reasonably required for residential use.
2 Development that does not require consent
Nil.
3 Development which requires consent
Any purpose other than a purpose included in Item 2 or 4 of the matter relating to this zone.
4 Prohibited
Residential flat buildings; purposes listed in Schedule 1.
Page 7
Information Memorandum – 375 Rooty Hill Road, Oakhurst
Tenancy details
From recent Title Search, the property is currently leased to an Oporto franchisee.
A summary of the Lease is as follows:
Demised Premises: 12/550172
Lessor: Crab Investments Pty Ltd
Lessee VIN & K Pty Limited
Term: 10 years
Option: 2 x 5 years
Commencement Date: 19 November 2009
Termination Date: 18 November 2019
Initial Base Rent: $170,000 per annum plus GST
Rent Reviews: Annual CPI increases with market review if option exercised (capped at 10%)
Outgoings: Lessee responsible for water usage charges.
Permitted Use: Oporto style chicken, burgers and related products for dine in, take away and drive
through purchase.
Comments:
The lease provided for the rent in Year 2 to be $200,000 p.a. plus GST.
The vendor has advised that the current passing base rent is $217,071 p.a. plus GST.
No recoverable outgoings have been advised/estimated as follows:
Council Rates: $4,496 advised
Water Rates: $0
Land Tax: (single holding) $3,588 assessed
Insurance: $5,330 advised ex GST
Total: $13,414 per annum
Therefore, the passing net income is estimated to be in the order of $203,958 p.a. net plus GST.
Page 8
Information Memorandum – 375 Rooty Hill Road, Oakhurst
SALES PROCESS
375 Rooty Hill Road, Oakhurst is being offered for sale of Expression of Interest or Forthcoming Auction at the office
of Knight Frank, Liverpool.
An expression of interest should be lodged either personally, by mail, by facsimile or by email (See Annexure 1 for
the form).
Lodgement
An Expression of Interest should be by way of a proposal, as outlined in the Annexure for the whole or part of the
site. If being delivered the Expression of Interest should be enclosed in a separate plain envelope marked as
outlined below and lodged in the designated tender box.
Respondents should submit all written information which is required in support of their Expression of Interest, or
which they wish to have considered in relation to their Expression of Interest.
The vendors reserve the right to extend the closing date, withdraw the property from sale at any time or amend the
offering at their discretion.
Expression of Interest
375 Rooty Hill Road, Oakhurst
Attention: Terry Hassan Associate Director, Sales and Leasing Knight Frank Australia Pty Ltd Suite 7, Level 1 72-74 Bathurst Street Liverpool NSW 2170
F: +61 2 9761 1801 E: Terry.Hassan@au.KnightFrank.com
Respondent to make and rely on own enquires.
In accordance with the disclaimer on page 10, interested parties are to make and rely on their own enquires and
investigations.
Due Diligence
If you would like to review additional details to that outlined in this document, please contact the Agents.
Inspections
All requests for inspections are to be directed to the Agents.
Page 9
Information Memorandum – 375 Rooty Hill Road, Oakhurst
CONTACT DETAILS
Terry Hassan
Associate Director – Sales and Leasing
Knight Frank Australia Pty Ltd
Suite 7, Level 1
72-74 Bathurst Street
Liverpool NSW 2170
T: 61 2 9761 1834
M: 0428 885 088
E: Terry.Hassan@au.KnightFrank.com
Page 10
Information Memorandum – 375 Rooty Hill Road, Oakhurst
DISCLAIMER
Knight Frank is offering the property at 375 Rooty Hill Road, Oakhurst on behalf of the Vendors and their respective
partners of these properties.
The Vendors and their respective partners, directors, employees, agents and advisors (Representatives) make no
representations and give no warranties in connection with this information memorandum, any related information, the
sale process or the property the subject of this information memorandum.
The Vendors and their Representatives have no personal liability in connection with this information memorandum,
any related information, the sale process of the property. By receiving this information memorandum, any related
information or participating in the sale, prices, prospective purchasers acknowledge receipt of valuable consideration
and release the Vendors and their Representatives from all claims, proceedings, costs and expenses both at law or
in equity and/or arising under any statute which the prospective purchaser has or had or may have against them
arising out of or in any way related to this information memorandum, any related information, the sale process or the
property. This release and discharge is given to the parties released jointly and to each of them severally.
ANNEXURE 1
Expression of interest form
Page 12
Information Memorandum – 375 Rooty Hill Road, Oakhurst
Property: 375 Rooty Hill Road, Oakhurst NSW
Purchasing Entity:
ACN/ABN: Attention:
Address: Postcode:
Phone: Fax:
Email:
Purchase Price (excluding GST):
Special Conditions:
Settlement Period:
Confirmation of Funding Source:
Signed (Authorised Representative):
Date:
Expressions of Interest documents must be received the at the office of Knight Frank:
Expression of Interest
375 Rooty Hill Road, Oakhurst NSW
C/O Knight Frank Australia, Suite 7, Level 1, 72-74 Bathurst Street, Liverpool NSW 2170
All EOI Documents must be received in a sealed envelope with a receipt provided upon delivery.
EXPRESSION OF INTEREST
Terry Hassan
Associate Director – Sales and Leasing
T: 61 2 9761 1834
M: 0428 885 088
E: Terry.Hassan@au.KnightFrank.com
top related