Point Cook property, The Brook, for sale

A landmark property at Point Cook is for sale.

The Brook, located at 215-221 Sneydes Road, has a 20 year lease to Geelong Football Club until 2029 with opportunities to increase it to 2059.

It has a fixed 3% annual rent increases with ‘ratchet’ provisions at market review ensuring guaranteed rental growth with a net income of $1,200,527 per annum and an attractive taxation depreciation benefits.

The Brook is 1.079 ha with 204 at grade car spaces and expensive triple street frontages of over 302 meters.

The property is an unrivalled high-traffic community services and commercial destination.

It is integrated with premium medical complex and meters from the busy Woolworths anchored Shopping Centre.

It features a modern hotel and gaming complex incorporating restaurant, function rooms, bistro, sports bar and gaming rooms with 84 EGM’s.

Recently the lessee has undertaken a significant capital upgrade with a growing population in the area.

Expressions of interest close December 8 through Burgess Rawson agents Shaun Venables and Adam Thomas.