New tenant for Heidelberg Mitsubishi site

Oz Car Group has leased the dealership occupied by Heidelberg Mitsubishi until 2020.

The Sydney based tenant has signed a five year agreement paying a starting annual rent of $450,000 ex-GST and outgoings.

On 5606 square metres, the property has 174 metres of Upper Heidelberg Road frontage.

There is also a 2586 sqm showroom with roller door access, part fit out for car maintenance.

There are partitioned offices too.

“We have seen a number of enquiries from the leading automotive brands but given its proximity to Bell Street and Austin Hospital, many health/medical related uses also,” NSL Property Group director Guy Naselli, who brokered Oz Car Group deal at 537 Upper Heidelberg Road, said (story continues below).

The asset is owned by REIL Dealership Bonds, associated with Sydney accounting firm Bentleys.

Heidelberg Heights is about 11 kilometres from the city.

Last year, at Bellfield, in the area, Glenvill Group backed by Qualitas won a council contract to develop a $220m apartment village on a 2.2 hectare block, part of which once accommodated the Banksia La Trobe Secondary College.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of