ONE of Bendigo's more unique commercial properties has been placed on the market, offering astute investors the chance to capitalise on the site's position and enormous potential.
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Situated at 5 Innovation Court, Kennington, the property comprises part of the Central Victoria Innovation Park and a total land area of 4,309 square metres across one title.
The property includes a modern office building with an area of approximately 918 square metres.
Located within close proximity to the Bendigo CBD and adjoining retail amenities, the property is zoned Commercial One and offers excellent access and exposure.
Selling agent Matt Bowles from DCK Real Estate said this was an opportunity to purchase an outstanding investment property, currently occupied by Bendigo Telco, on a lease which expires in August 2023.
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The current net passing rent is $185,252, and increases annually on September 1 to the greater of CPI or three per cent.
Mr Bowles said the property offered state of the art facilities and was purpose-built for the current tenant.
"More than ever, we now know and accept that businesses do not need to locate themselves in the CBD to operate and to be successful, and this is a great example of a site that offers so much and is in close proximity to so much more."
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The conditions of sale note that the property is home to offices and a disaster recovery and business continuity centre.
The property is located approximately 2.8 kilometres south east of the Bendigo CBD, at the end of Innovation Court and has excellent vehicle and parking access.
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La Trobe University's main entrance is located approximately 100 metres south of the property.
The property is also located close to public transport, schools, and local shopping facilities.
Mr Bowles said Greater Bendigo had proven to be one of the fastest-growing regional centres in Victoria with the population forecast to grow by almost 30 per cent to approximately 156,000 within the next 20 years.
"Bendigo is experiencing a surge in demand due to the lifestyle it offers its residents, and the affordable entry level into property ownership," he said.
"We've also seen that commercial property sales have been particularly strong during the past 12 months, with investors, both local and beyond, showing their confidence in Bendigo's affordable, low risk market," he said.
The property is being offered for sale via an expression of interest campaign closing September 16, 2021 at 3pm.
Agents in conjunction are Tweed Sutherland First National.
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