Sold: Bunnings Warehouse Bathurst sells for $25.5 million

Stonebridge Property Group is pleased to announce the sale of Bunnings Warehouse Bathurst for $25.5m to a Private Investor, reflecting a yield of 5.35%.

The regionally-located standalone asset is underpinned by a 12 year net lease of $1.365m to Bunnings Group, with options to 2077 and fixed annual rental increases of 2.5%. In October 2015, significant upgrades were completed taking the store’s Gross Lettable Area from 8,300sqm to its current size of 14,272sqm.

Commenting on the sale, Stonebridge Sales Agent, William Blanch said, “The reinvestment by Bunnings into the asset sent a clear signal to the market that this is the most dominant large-format retail precinct in Bathurst and the growth that the city has experienced in recent years is set to continue.”

“Looking at sales over the past two years, this sale represents a further benchmark for Bunnings assets across Australia.”

”The volume of interest throughout the campaign highlights the market’s continued demand for annuity-style real estate investments, and with a ‘blue-chip’ covenant like Bunnings combined with a total potential lease tenure of 60 years, this asset is exactly that.”

For further information please contact the exclusive selling agents William Blanch (+61 400 099 966) and Philip Gartland (+61 403 582 324).

Latest News

View All News
March 10, 2021

9 Mornington shops to go under the hammer on behalf of Mortgagee

December 10, 2021

6 Developers and Owner Occupiers Fight for Cremorne Control Leading to 34-36 Cremorne Street Selling Under the Hammer for $5.15m

October 09, 2021

50 years in the making – sale of major St Kilda site