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For Sale | Retail Investment Property new

Premium Freestanding Supermarket Investment

1-13 Ilex Street
Red Cliffs, VIC 3496
Australia
Inquire About This Property
Building Size:
1,873 SQM
Sale Price:
Negotiable
Lot Size:
5,481 SQM
Key Features
  • 15 YEAR LEASE TO IGA WITH 144 STORES
  • ATTRACTIVE CPI ANNUAL INCREASES
  • POTENTIAL FOR 50% STAMP DUTY SAVING

Cushman & Wakefield Melbco Retail Investments & First National are delighted to exclusively present a premium freestanding supermarket investment at 1-13 Ilex Street, Red Cliffs for sale.


• Blue-chip tenant in Ritchies IGA with some 150 stores nationally and in excess of $1.4b in annual revenues.

• Tenant in operation for over 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*

• Potential 50% Stamp duty savings for purchasing regional VIC property.


*Approx


1-13 Ilex Street, Red Cliffs is offered for sale via Expressions of Interest closing Wednesday 20 March 2024 at 1pm (AEDT). 


Cushman & Wakefield 


Oliver Hay | 0419 528 540

George Davies | 0421 799 489

Raphael Favas | 0435 916 380

Jeff Ha 石军豪 | 0401 145 166


1-13 Ilex Street View More Images

Brokers

Oliver-Hay
Oliver Hay

International Director & Co-Head Investment Sales, Victoria
Melbourne, Australia

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