INVESTORS have a superb chance to purchase a blue-chip freestanding Coles, Liquorland, and Shell Coles Express retail investment as 107-121 Echuca Road in Mooroopna hits the market.
The property offers a 2,860sq m* building plus a separate freestanding fuel station on a 1.33ha* land area and is being offered to the market via an expressions of interest campaign that closes on Tuesday 30 March 2021.
The asset is being marketed by Ray White Commercial QLD Director and Head of Investment Sales Tom Barr – with Ray White Commercial Glen Waverley Managing Director Ryan Trickey.
“Investment opportunities like this don’t come along every day and the fact the property has a blue-chip tenant in place with an estimated net income of $562,669* per annum will certainly appeal to a diverse demographic of buyers,” Mr Barr said.
“The asset is strategically placed in the largest city in northern Victoria within the Goulburn region that’s known as the ‘The Fruit Bowl of Australia’.
“The property is on the major urban growth corridor of Greater Shepparton, which is one of Victoria’s strongest regional cities, 180km* north of the Melbourne CBD.”
“The property has Commercial 1 (C1Z) Zoning and offers potential further development with excess land, not currently sealed for car parking, which can facilitate a supermarket extension in the future – subject to council approval,” Mr Trickey said.
“The property is 100 per cent leased to Coles Group Limited with a secure 20-year net lease that expires on 07 November 2022, with two further 10-year options to 2042.
“It will benefit from significant government investment ($800 million* of committed funding) towards rail and road projects and community infrastructure in Shepparton and Mooroopna.”