OVERVIEW

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