Squeaky clean investment opportunity as Victorian carwash portfolio listed

 Squeaky clean investment opportunity as Victorian carwash portfolio listed

A fantastic opportunity has arisen for an investor who doesn’t want to get their hands dirty as a trio of carwash sites in and around Melbourne have been made available for purchase.

CBRE is overseeing the sales campaign for the ‘Magic Hand Carwash’ portfolio with all three properties being sold individually and set for auction on December 10.

The three sites are located in Glen Iris, Ferntree Gully and Geelong’s Newtown and are expected to fetch a combined $7 million when they go under the hammer next week.

CBRE’s Scott Hawthorne said that the portfolio offers an incredible investment opportunity for a savvy buyer, with the potential to develop the properties also on the cards.

“Each site is on a large, high-exposure landholding with flexible zoning, suitable for multiple development outcomes in the future (STCA),” he said.

All three properties hold 10-year leases and each of the respective franchises feature an established trading history with Mr Hawthorne adding that his team are expecting a big turn out for the unique offering.

We expect strong buyer interest from a range of international and local buyers, given the strength of the national brand – with Magic Hand Carwash being in operation for over 26-year.

Scott Hawthorne – CBRE

CBRE Manager of Retail Investments Victoria, JJ Heng, echoed Mr Hawthorne’s words and added that for the right buyer(s), the portfolio is a potential goldmine.

“The income security offered by this recognised, trusted and market-leading operator will appeal to buyers looking for an exciting investment,” Mr Heng added.

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