information memorandum 375 rooty hill …...375 rooty hill road, oakhurst is being offered for sale...

INFORMATION MEMORANDUM

375 ROOTY HILL ROAD, OAKHURST

FEBRUARY 2015

Information Memorandum – 375 Rooty Hill Road, Oakhurst

CONTENTS

Introduction 3

Executive Summary 4

Location 5

Zoning Objectives 6

Tenancy Details 7

Sales Process 8

Contact Details 9

Disclaimer 10

Annexure 1 - Expression of Interest Form


INTRODUCTION

Knight Frank is pleased to offer 375 Rooty Hill Road, Oakhurst For Sale by Expression of Interest.

The property presents an excellent opportunity to invest and enjoy capital and security of a national tenant in Oporto.

The property will be sold via Expressions of Interest and/or Forthcoming Auction.


EXECUTIVE SUMMARY

Address 375 Rooty Hill Road, Oakhurst NSW.

Zoning Residential 2(a) to be rezoned R2 Low Density Residential under Blacktown LEP 2013

Title Description Lot 12 in Deposited Plan 550172

Building Area 185sqm plus drive through area.

Land Area 1,467sqm.

Local Authority Blacktown City Council.

http://www.blacktown.nsw.gov.au

Location The property is located on the north-western corner of Rooty Hill Road North and

Jersey Road at Oakhurst, some 44 kilometres north-west of the Sydney CBD. It is

located on a prominent corner position on the border of Plumpton about

3 kilometers north of Rooty Hill shopping centre and railway station.

Tenure The property, leased to a franchise company for an initial 10-year term with 2 x 5-year

options from 19 November 2009 with a current net rent of $203,958 p.a.

Contract Available upon request

Method of Sale Expressions of Interest and/or Forthcoming Auction

Auction Date To be advised

Time To be advised

Selling Agent Terry Hassan

Associate Director, Sales and Leasing

Knight Frank Australia Pty Ltd

Suite 7, Level 1

72-74 Bathurst Street

Liverpool NSW 2170

T: 61 2 9761 1834

M: 0428 885 088

E: [email protected]


LOCATION

Boundary Indicative only

The property is located on the north-western corner of Rooty Hill Road North and Jersey Road at Oakhurst, some

44 kilometres north-west of the Sydney CBD.

The property is located on a prominent corner position on the border of Plumpton about 3 kilometres north of

Rooty Hill shopping centre and railway station.

Both Rooty Hill Road North and Jersey Road are busy thoroughfare roads with Plumpton Marketplace (Woolworths

and Big W) about 600 metres west. The M7 Motorway runs parallel to Rooty Hill Road North with the property

between nearby junctions with Richmond Road and Powers Street. Marsden Park is also 5 minutes drive away.

Surrounding development is mainly modern single dwellings and townhouses.


ZONING OBJECTIVES

Zone No 2 (a) (Residential “A” Zone)

1 Objectives of zone

The objectives are:

(a) to make general provision to set aside land to be used for the purpose of housing and associated facilities

(b) to identify existing residential areas of a predominantly single dwelling character, and to maintain that character by prohibiting residential flat buildings

(c) to enable sensitive infill development of other housing types if the infill development is of a bulk, scale and appearance that does not adversely impact on adjoining development or the amenity of the locality

(d) to enable development for a variety of housing forms, including townhouses, villas, integrated housing, dual occupancies and the like, if such development does not interfere with the amenity of surrounding residential areas by way of overshadowing, overlooking, or loss of privacy

(e) to allow people to carry out a reasonable range of activities from their homes, where such activities are not likely to adversely affect the living environment of neighbours, and

(f) to allow within the zone a range of non-residential uses which:

(i) are capable of visual integration with the surrounding environment

(ii) either serve the needs of the surrounding population or the needs of the City of Blacktown without conflicting with the basic intent of the zone, and

(iii) do not place demands on public services beyond the level reasonably required for residential use.

2 Development that does not require consent

Nil.

3 Development which requires consent

Any purpose other than a purpose included in Item 2 or 4 of the matter relating to this zone.

4 Prohibited

Residential flat buildings; purposes listed in Schedule 1.


Tenancy details

From recent Title Search, the property is currently leased to an Oporto franchisee.

A summary of the Lease is as follows:

Demised Premises: 12/550172

Lessor: Crab Investments Pty Ltd

Lessee VIN & K Pty Limited

Term: 10 years

Option: 2 x 5 years

Commencement Date: 19 November 2009

Termination Date: 18 November 2019

Initial Base Rent: $170,000 per annum plus GST

Rent Reviews: Annual CPI increases with market review if option exercised (capped at 10%)

Outgoings: Lessee responsible for water usage charges.

Permitted Use: Oporto style chicken, burgers and related products for dine in, take away and drive

through purchase.

Comments:

The lease provided for the rent in Year 2 to be $200,000 p.a. plus GST.

The vendor has advised that the current passing base rent is $217,071 p.a. plus GST.

No recoverable outgoings have been advised/estimated as follows:

Council Rates: $4,496 advised

Water Rates: $0

Land Tax: (single holding) $3,588 assessed

Insurance: $5,330 advised ex GST

Total: $13,414 per annum

Therefore, the passing net income is estimated to be in the order of $203,958 p.a. net plus GST.


SALES PROCESS

375 Rooty Hill Road, Oakhurst is being offered for sale of Expression of Interest or Forthcoming Auction at the office

of Knight Frank, Liverpool.

An expression of interest should be lodged either personally, by mail, by facsimile or by email (See Annexure 1 for

the form).

Lodgement

An Expression of Interest should be by way of a proposal, as outlined in the Annexure for the whole or part of the

site. If being delivered the Expression of Interest should be enclosed in a separate plain envelope marked as

outlined below and lodged in the designated tender box.

Respondents should submit all written information which is required in support of their Expression of Interest, or

which they wish to have considered in relation to their Expression of Interest.

The vendors reserve the right to extend the closing date, withdraw the property from sale at any time or amend the

offering at their discretion.

Expression of Interest

375 Rooty Hill Road, Oakhurst

Attention: Terry Hassan Associate Director, Sales and Leasing Knight Frank Australia Pty Ltd Suite 7, Level 1 72-74 Bathurst Street Liverpool NSW 2170

F: +61 2 9761 1801 E: [email protected]

Respondent to make and rely on own enquires.

In accordance with the disclaimer on page 10, interested parties are to make and rely on their own enquires and

investigations.

Due Diligence

If you would like to review additional details to that outlined in this document, please contact the Agents.

Inspections

All requests for inspections are to be directed to the Agents.

mailto:[email protected]


CONTACT DETAILS

Terry Hassan

Associate Director – Sales and Leasing

Knight Frank Australia Pty Ltd

Suite 7, Level 1

72-74 Bathurst Street

Liverpool NSW 2170

T: 61 2 9761 1834

M: 0428 885 088



DISCLAIMER

Knight Frank is offering the property at 375 Rooty Hill Road, Oakhurst on behalf of the Vendors and their respective

partners of these properties.

The Vendors and their respective partners, directors, employees, agents and advisors (Representatives) make no

representations and give no warranties in connection with this information memorandum, any related information, the

sale process or the property the subject of this information memorandum.

The Vendors and their Representatives have no personal liability in connection with this information memorandum,

any related information, the sale process of the property. By receiving this information memorandum, any related

information or participating in the sale, prices, prospective purchasers acknowledge receipt of valuable consideration

and release the Vendors and their Representatives from all claims, proceedings, costs and expenses both at law or

in equity and/or arising under any statute which the prospective purchaser has or had or may have against them

arising out of or in any way related to this information memorandum, any related information, the sale process or the

property. This release and discharge is given to the parties released jointly and to each of them severally.

ANNEXURE 1

Expression of interest form


Property: 375 Rooty Hill Road, Oakhurst NSW

Purchasing Entity:

ACN/ABN: Attention:

Address: Postcode:

Phone: Fax:

Email:

Purchase Price (excluding GST):

Special Conditions:

Settlement Period:

Confirmation of Funding Source:

Signed (Authorised Representative):

Date:

Expressions of Interest documents must be received the at the office of Knight Frank:

Expression of Interest

375 Rooty Hill Road, Oakhurst NSW

C/O Knight Frank Australia, Suite 7, Level 1, 72-74 Bathurst Street, Liverpool NSW 2170

All EOI Documents must be received in a sealed envelope with a receipt provided upon delivery.

EXPRESSION OF INTEREST

Terry Hassan

Associate Director – Sales and Leasing

T: 61 2 9761 1834

M: 0428 885 088
