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Two dominant regional supermarkets go up for auction

With supermarket investments performing well throughout the pandemic, the sale of IGA Monto and IGA Millmerran provide the perfect opportunity to grab a piece of the action.

Located at 22-26 Newton Street and 5 Spencer Street, Ray White Commercial QLD salesperson Michael Feltoe said the Monto IGA comprised an outstanding opportunity to acquire a strong performing regional supermarket investment.

“IGA Monto is located approximately 223km west of Bundaberg, positioned prominently in the town’s main business and shopping thoroughfare,” Mr Feltoe said.

“This opportunity comprises an IGA Supermarket, complemented by an adjoining cafe and strip shops, a storage shed to the rear and a recently renovated 4 bedroom house.”

“The property has a passing net income of approximately $160,223 and is anchored by a lease to Peries IGA, who operate over 14 stores across Queensland.”

The second opportunity, Millmerran IGA, is located at 25-29 Campbell Street, which Ray White Commercial QLD salesperson Lachlan O’Keeffe said provided a fantastic opportunity to invest in another strong performing regional supermarket just 208km from Brisbane.

“The property is positioned perfectly along Campbell Street in the heart of Millmerran,” Mr O’Keeffe said.

“Millmerran is a prosperous town within the Darling Downs region and acts as the centre for surrounding districts including Bringally, Cecil Plains, and others comprising a catchment area of 4,716 square kilometres.

“This opportunity comprises a freestanding IGA Supermarket with a three-bedroom residence above, a hairdresser next-door and an abundance of on-street car parking.

“Returning $68,649 net income per annum, the property is leased to IGA on a secure 12-year lease until 2029.”

Both properties will be offered for sale via auction at 111 Eagle St, Brisbane, on September 24.

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