MELBOURNE, AUSTRALIA
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Bay Road, Highett

241 – 245 Bay Road Highett, Victoria
Commercial site with existing tenant, possible redevelopment

Project Highlights Joint venture with Wingate, one of Australia’s leading finance and investment houses

Partners

Project Value TBC

Project Timeframe TBC

Bay Road, Highett

This 9,057sqm site is made up of a recently refurbished, two-level gymnasium of 5,335sqm on a large land parcel with generous frontage to Bay Road and Avoca Street. Currently leased to Fitness First, the largest privately owned health club in the world, we were attracted to the strong income stream already guaranteed here. Our in-house team, however, also recognises the future development potential of this site. Over 990 units are due for completion in the Bay Road area by the end of 2016. This is our first time in a joint venture with finance and investment house, Wingate, a company known for its exceptional track record, unique risk and management culture, discretion, reach and influence. Wingate is owned by its principals and a group of substantial private and institutional investors; it is widely regarded as one of Australia’s leading specialist finance and investment houses.

This is ICD’s first investment property with rezoning opportunities and we currently have a major long-term tenant, Fitness First, in place.
ICD’s highly informed and strategic project choices appeal to joint venture partners keen to benefit from our market knowledge and reduce their risks.

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For ICD Property, the future is an exhilarating place. Our vision expands, our relationships strengthen and accomplishments are acknowledged. We continue to thrive and excel. The time to partner with us is now.

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Location
Level 18, 303 Collins Street

Melbourne VIC 3000

Australia

Level 19, 233 Castlereagh Street

Sydney NSW 2000

Australia