Bolster your portfolio with this set and forget investment. Presenting a premium freestanding supermarket with the addition of 2 extra retail spaces : * 15 YEAR LEASE TO IGA WITH 144 STORES * ATTRACTIVE CPI ANNUAL INCREASES * POTENTIAL FOR 50% STAMP DUTY SAVING
• Blue-chip tenant in Ritchies IGA with some 150 stores nationally and in excess of $1.4b in annual revenues • Tenant in operation for 40 years • 15-year lease in place with extremely favorable CPI increases and further options • Significant net income of $470,565 per annum plus GST & Outgoings • Large land holding with significant overflow car parking land to the north and rear of the complex • One of Australia’s oldest retail chains established in 1870 with 6500 employees nationally – part owned by $4b conglomerate Metcash • Non-discretionary retail tenant operating from the property since 1983 (approx.) • Potential 50% Stamp duty savings for purchasing regional VIC property
1-13 Ilex Street, Red Cliffs is offered for sale via Expressions of Interest closing Wednesday 20 March 2024 at 1pm (AEDT) - Contact Ben Ridley for further information.
