55 Grant Road, Somerville, Vic 3912

FOR SALE BY SET DATE CLOSING THURSDAY 22ND OCTOBER 2026 AT 2:00PM

 

Positioned on a substantial 5,037sqm* landholding within Somerville’s established industrial precinct, this purpose-built aquatic and fitness facility provides investors with secure income, a long-term lease and significant underlying land value.
 
The property is leased to Core24 under a 14-year lease commencing 3 April 2019, with options extending to 2053. The current rental is $244,845 per annum plus GST and outgoings, with annual CPI increases providing continued income growth.
Core24 Health Clubs has four locations and has been operating for over 20 years.
 
Constructed circa 2007, the 2,223.5sqm* facility is extensively improved and incorporates a 25-metre indoor heated swimming pool, hydrotherapy pool, gymnasium, change rooms, amenities and an on-site café. Approximately 80 on-site car spaces further support the property’s established operation.
 
Beyond its immediate investment credentials, the generous Industrial 3 Zoned site offers considerable long-term flexibility and potential for alternative uses, including medical, childcare, self-storage, redevelopment or a place of assembly, subject to council approval.
 

Key lease details:

• Current rental of $244,845 + GST + outgoings per annum
• Long-term 14-year lease, expiring 2033
• Four (4) further five (5) year options
• Annual CPI rent increases during the initial term and option periods

*Plant, equipment and pool fixtures are the responsibility of the tenant.

 

Key features include:

• Substantial 5,037sqm* landholding
• Building area of 2,223.5sqm*
• Approximately 80 on-site car spaces
• Established aquatic and fitness facility
• Industrial 3 Zone
• Significant future-use potential (STCA)

 

For Sale by Set Date closing Thursday 22nd October 2026 at 2:00pm, unless sold prior.

 

DISCLAIMER:

*All information and measurements are approximates. Please refer to Contract of Sale and/or Lease documentation. All images subject to copyright.

*By enquiring on this property you agree to recieve regular property updates and marketing communications from Nichols Crowder. You may subscribe at anytime.