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423 Smollett Street
Albury NSW 2640
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Sold on 12 May 2021

423 Smollett Street Albury NSW 2640

  • Shop & Retail
  • 2,515 m²
  • Sold

Freestanding Officeworks Investment, Brand New Lease

Renewed lease to Officeworks until January 2027 plus options.
Blue-chip tenant, wholly owned subsidiary of $62 billion Wesfarmers Ltd (WES: ASX).
Officeworks is a market leading essential service retailer and major beneficiary from the work-from-home shift, recently reporting a 23.6% increase in half year sales revenue*.
Significant depreciation benefits, with 58.2% of first year's rent potentially tax free.**
Attractive net lease terms with the tenant responsible for rates, insurance and land tax
Strategic CBD gateway corner location surrounded by The Good Guys, Dan Murphy's, KFC, First Choice Liquor, Mercedes Benz and Albury Station, all within 300 metres.
Long established 4,924 sqm site with over 95 metre frontage to Riverina Highway, occupied by Officeworks since 1999.
The twin cities of Albury/Wodonga have a booming population of 100,435, with 7,673 businesses supporting 51,747 jobs***.
Housing demand in Albury (monthly views per property) is up 290% since March 2020 and the median unit price has increased 25.5% in the last 5 months****.
Estimated Net Rent: $525,000 pa

For Sale by Investment Portfolio Auction
10:30am (AEST) Wednesday 12 May 2021
Crown Casino, Melbourne

*Wesfarmers
**Napier & Blakeley
***.id
*******

AUCTION

Auction date and time12/05/2021 10:30
Auction location423 Smollett Street, Albury NSW
Burgess Rawson VIC Pty Ltd
Burgess Rawson VIC Pty Ltd
Level 20, 150 Lonsdale Street
Melbourne, VIC 3000

Property Highlights

Date Sold12 May 2021
Floor Area2,515 m²
Land Area4,924 m²
ParkingAsk Agent
Property ID2016937368
Category
Last updated  13 May 2021
Map for 423 Smollett Street Albury NSW 2640

Nearest transport* to 423 Smollett Street Albury NSW 2640

Bus
Train
Tram
Ferry
Albury Station189 m
David St at Dean St366 m
Albury Public School, Smollett St382 m
Macauley St after Hovell St418 m
This data is © 2024 Transport for NSW, licenced under CC BY 4.0.
*Within a 4km radius
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Burgess Rawson VIC Pty Ltd
Burgess Rawson VIC Pty Ltd
Level 20, 150 Lonsdale Street
Melbourne, VIC 3000

Property Highlights

Date Sold12 May 2021
Floor Area2,515 m²
Land Area4,924 m²
ParkingAsk Agent
Property ID2016937368
Category
Last updated  13 May 2021

Co-Agents

Billy Holderhead
Billy Holderhead
Burgess Rawson VIC Pty Ltd
Call
0422 817 696
Beau Coulter
Beau Coulter
Burgess Rawson VIC Pty Ltd
Call
0413 839 898
Jamie Perlinger
Jamie Perlinger
Burgess Rawson VIC Pty Ltd
Call
0413 860 315

More about 423 Smollett Street Albury NSW 2640

423 Smollett Street Albury NSW 2640 is categorized as Shop & Retail Property. It has a floor area of 2,515 m² and a land area of 4,924 m². The listing ID for this property is 2016937368.

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