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Wandin East, 250 Queens Road

Yarra Valley - Solid rural Investment, to show a 6.4% return

$5,000,000 No GST

Listing Number: LWD3544
About this listing
We are proud to offer this superb 17 Hectare, flower farm for sale, located at Wandin East and just 10 minutes drive from Lilydale and the eastern suburbs of Melbourne at the gate way to the Yarra Valley. It features a 12 year old 37 square metre Brick Veneer Homestead with glorious views over surrounding farm enterprises to the mountains beyond. Comprising 4 bedrooms, 2 bathrooms and 3 separate living areas the home is complete with all modern conveniences and is tastefully decorated to satisfy most discerning eyes. It is accompanied by additional sundry shedding, a workshop and storage for cars and a boat or caravan and is set apart from the remainder of the farm.
The property has been within the same family for some 35 years and at present, second generation farmers have modernized and further established the property including more climate controlled "green house" cover for the growing and picking of lilies for the cut flower market. Spare uncovered land is also used for summer outdoor plantings. There is about 45,000 square metres of natural gas heated "green housing" ensuring rapid healthy growth of plants in rich red volcanic soils.
A farm packing shed of about 1,050 squares metres of floor area is fitted with cool rooms along one side while on the opposite side there are offices and labourers' facilities which include a large kitchen-dining area with adjacent toilet facilities. Easy access is provided from the main road allowing prompt delivery to Melbourne's suburbs.
Another complimenting feature of this property is the outstanding water supply which originates not only from its large 20 mega-litre, permanent spring fed dam but run off from green house roofing is also captured and recycled from a further two storage dams. A 39 mega-litre license guarantees continuous water supply in all weather conditions, is fully computerized and can be operated remotely away from the property.
The overriding factor making this property unique apart from all others, is the "leased" cool store factory. Separate and accessed from an alternative road frontage to the property it is a modern complex of 2,172 square metres of floor space and houses 10 large cool rooms and big grading area and elevated, modern office and kitchen dining space. Bulb stock is brought in and distributed world-wide from this facility. Lease income generated from the factory and owner "lease back" will be $322,000 per annum. From a purely investment point of view, this return represents a secure 6.4% return on the purchasers' investment.
Added to this, apart from the properties immediate and obvious appeal there is the added long term potential for capital growth in its land value. The Wandin district has seen property sale rates increase by 14% over each of these past two years and this property is fortunate to have two existing road frontages with another as yet, "unmade road", lending it to having terrific potential for future subdivision.
Property Information
  • Tenure: Fee Simple
  • Property Type: Warehouse, Land, Other (Horticultural Investment Property)
  • Floor Area
    • Warehouse Square Metres: 3222
    • Canopy Square Metres: 45000
  • Tenancy: Additional Details: Vendors offer to lease farm property back for a period of 5 years at a return of $100,000 per year
  • Tenancy 1: Area Sqm: 2172, Rental net/gross p.a.: 222000, Term (years): 10
  • Tenancy 2: Area Sqm: 2172, Term (years): 10

Contact Details

Harcourts Wandin

Shop 1, 362 Warburton Highway
Wandin North
Office website

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