42 Corporate Drive, Heatherton, VIC, 3202

Burgess Rawson is pleased to offer to market ‘Cell Care’ located at 42 Corporate Drive, Heatherton (Moorabbin) VIC for sale via Auction Investment Portfolio 172.

The property has the following key investment highlights:

+ Renewed Seventeen (17) year net lease to Cell Care to December 2032.

+ One (1) further 5 year option to December 2037.

+ Cell Care: Australia’s largest and most experienced cord blood and tissue bank, a leading entity in the bioscience and medical sector, with over 200,000+ stem cells stored nationally, and wholly owned by Nasdaq Listed CooperCompanies. (1)

+ CooperCompanies (Nasdaq:COO): leading global medical device company with a current market capitalisation of $32.34B (AUD), operating through the two main core business units of CooperVision and CooperSurgical. (2)

+ Investor preferred net lease terms with Cell Care responsible for all outgoings including single holding land tax.

+ Fixed 3.5% annual rent increases, ensuring continued income growth.

+ Long-standing tenant on-site for 16 years, demonstrating strong commitment to the location and business operations.

+ Impressive dual-level office/warehouse facility spanning 1,108sqm*, constructed circa 2008, featuring extensive office spaces for administrative and research functions, along with laboratory and temperature-controlled warehouse spaces utilised as a specialised blood storage facility. The site also includes 33 on-site car parking spaces.

+ Irreplaceable 3,536sqm* C2 Zoned freehold landholding with strong underlying land value and future tenant-funded expansion potential (STCA).

+ Highly customised and capital-intensive tenant-funded internal fit-out tailored specifically to Cell Care's operations and storage requirements, further strengthening continued occupancy beyond the lease term.

+ Conveniently located directly off Warrigal Road, a major south-east metropolitan arterial connecting Mentone through to Burwood and servicing more than 33,300 passing vehicles daily. (3)

+ Strategic high-traffic location within 400m* of key retailers and facilities, including the Bunnings, Fantastic Furniture, and Chemist Warehouse-anchored Moorabbin Super Centre, Parkview Estate, VicRoads, Repco, McDonald’s, and Hungry Jack’s.*

+ Moorabbin is a highly sought-after inner metropolitan location, boasting an impressive annual economic output of $4.1 billion. The area is forecast to experience significant population growth, with an expected surge of 82% by 2038(4). This surge is driven by urban development, infrastructure investment, and increasing demand for housing. The Victorian Government has also identified Moorabbin as one of 10 key activity centres where 60,000 new homes will be added under the Victoria Housing Statement, focusing on areas close to services, jobs, and public transport. This strategic initiative positions Moorabbin for continued residential and commercial growth(5).

+ Net Income: $340,043pa* + GST. (as at December 2024)

For Sale by Investment Portfolio Auction

10:30am AEDT Wednesday 30 October 2024

River Room - Crown Casino, Melbourne

1 Cell Care

2 CooperCompanies

3 GapMaps

4 City of Kingston

5 VPA

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