Scope Property Partners are pleased to present 29–31 Glenelg Street, Coolaroo, a high-quality industrial investment leased to Meshcrete Melbourne Pty Ltd, offering secure long-term income within one of Melbourne’s most tightly held industrial precincts.
Set on a substantial landholding, the property comprises a well-maintained facility designed to support modern manufacturing and logistics operations. The asset is underpinned by a new 10-year lease commencing November 2025, with further options extending potential tenure through to 2050.
Investment Highlights
- 10-year lease to established industrial occupier
- Net income of $480,000 p.a. + GST All outgoings paid by the tenant, including Land Tax.
- Annual increases of 4% or CPI (whichever is greater)
- Land area of 4,571 sqm* with 2,700 sqm* of total building area
- Zoned Industrial 1 (IN1Z) – City of Hume
- High-clearance warehouse with functional office accommodation
- Significant power supply (~700 amps) and
- 3x new 5 tonne gantry cranes in place
- Five on-grade roller doors for efficient access and circulation
- Strong tenant profile with exposure to national construction projects
Location
Located in the heart of Melbourne’s northern industrial corridor, the property offers excellent connectivity to key road networks:
- Metropolitan Ring Road (M80) – approx. 2km
- Hume Highway – approx. 3.5km
- Melbourne Airport – approx. 13km
- Melbourne CBD – approx. 27km
This strategic position supports efficient freight movement and ongoing tenant demand.
The Opportunity
A well-located, income-producing asset with long term lease security and built-in rental growth. The scale of the landholding and quality of improvements further enhance its long-term appeal to investors.
*approx
**outline indicative only
