A brand-new country club facility hits the market

16 September 2022

21 Members Drive represents a brand-new commercial investment with a rare 15-year triple net lease, underpinned by a significant landholding of 10,950sqm (1,092ha) with strong underlying land value in sought-after Doncaster.

The commercial opportunity incorporates premium health and lifestyle services, including a gymnasium, one outdoor and one indoor 25-meter swimming pool, spa and sauna, four tennis courts, function spaces, café, outdoor dining terrace, commercial kitchen, crèche, change rooms, and secure on-site parking for 172 cars.

The total net lettable area of 3,610sqm is currently leased by Next Generation clubs Australia, who opened the doors to the brand-new facility named Next Gen Doncaster in May 2021.

National Director of Colliers Investment Services, Peter Bremner, said that the current tenant, Next Gen Club, has signed a rare 15-year triple net lease, with a further option of two terms of 10 years each.

“It’s rare to find a commercial investment opportunity with this kind of security that provides a passive long WALE investment with a commencing rental income of 1.5 million per annum.

“The triple net lease, which means that the tenant will cover all outgoings as well as repairs and maintenance of a structural or capital nature, adds to the unique security of this commercial opportunity,” Mr Bremner said.

Colliers’ Director in Charge for Capital Markets and Office Leasing, Rob Joyes, said that the wellness market has seen rapid growth over the past three years with the sector adjusting to requirements brought upon by the pandemic.

“The rising interest in wellness is not going away. People are becoming more knowledgeable about their health, realising that prevention is much better than cure.

“We’ve seen an increased appreciation of health services across the global wellness tourism market, which is expected to reach $919 billion in 2022, and continue to grow by 6.6% annually,” Mr Joyes said.

Amongst the brand-new facility lays a historic building from 1887, known as Tullamore House, which brings a rich history to the site. The building has been beautifully restored and offers an exclusive private country-club feel to the Next Gen facilities with a private function room and a stunning second-story veranda with views overlooking the CBD.

Located just 13km north-east of Melbourne CBD in the affluent suburb of Doncaster, which offers exceptional retail amenities, access to prestige education, and transport hubs, this prominent corner, is also the main entrance to Mirvac’s master-planned community, Tullamore.

Colliers’ Rob Joyes, Peter Bremner, Leon Ma, and Karen Wales have exclusively been appointed to sell the corner block with prime frontage to Doncaster Road, and secondary frontage to Heritage Boulevard, Members Drive and Silver Leaf Circuit.

Expected to reach a low-to-mid $30 million range, 21 Members Drive, Doncaster is currently offered for sale by international expressions of interest, closing Tuesday 18th October 2022 at 3pm.