Australia’s retail property market is set for its first test in the “COVID normal” environment of 2022, with the high-performing freestanding Woolworths Eltham up for sale.
Stonebridge Property Group Justin Dowers and Kevin Tong have been appointed to market the modern supermarket asset at 23 Arthur Street, in conjunction with Fitzroys, via an Expressions of Interest campaign closing 24 March.
Expectations are of circa $30 million as a fast-growing pool of investors looks for defensive, income-producing investments that have proven to be pandemic-proof.
Leased to blue-chip tenant Woolworths on a brand-new five-year lease plus options through to 2050, the 4,249 sqm modern, full-line supermarket with an estimated net operating income of $1,166,228 per annum with full recoveries of outgoings including state land tax.
Built 20 years ago, it has a large 284 car parks over 2 levels and is on a substantial Commercial 1-zoned site of 9,044 sqm in a high-profile location between Coles, Aldi and Dan Murphy’s in the centre of the Melbourne suburb of Eltham and its major commercial precinct, and located just moments from Eltham train station and multiple bus routes.
For further information please contact:
Justin Dowers | +61 438 098 805 | email@example.com
Kevin Tong | +61 422 848 818 | firstname.lastname@example.org