Burgess Rawson is pleased to offer to market 760 Benetook Avenue, Mildura VIC, for sale via Expressions of Interest.
The property has the following key investment highlights:
+ As new retail centre with anchored by Subway and Pizza Hut plus Augustus Gelatery and Major Automatic Car Wash.
+ Long and Strong WALE of 6.69 years* (By Rent).
+ Renewed Seven (7) year lease to Subway with options through to 2045.
+ Subway: International fast-food leader with approximately 37,000 stores worldwide in more than 100 countries. (1)
+ Recently renewed five (5) year lease to Augustus Gelatery plus options through to 2039.
+ Augustus Gelatery: Fast growing artisan Italian Gelato chain operating 34 locations across Victoria. (2)
+ A brand new Ten (10) year agreed heads of agreement in place with Pizza Hut with options through to 2049.
+ Pizza Hut: Global pizza chain operator more than 16,000 restaurants and 350,000 team members in over 100 countries. (3)
+ A mixture of annual CPI, Fixed 3%, & 3.5% annual rent reviews, ensuring income growth.
+ Investor preferred net lease terms, with tenants pays all usual outgoings.
+ As new, 1,680sqm* purpose-built retail QSR centre with car wash, and 41 on-title car parking spaces.
+ Future options to further separate and sell down (STCA).
+ Built circa 2018, offering modern infrastructure and significant tax depreciation benefits.
+ Strategic 4,001sqm* main road landholding positioned within Mildura's dominant retail precinct, adjoining McDonald's and surrounded by KFC , Bunnings, Fantastic Furniture, Anaconda, Chemist Warehouse & Rebel.
+ Mildura: bustling commercial centre of the Sunraysia and Murray River region home to over 60,000 people, with an annual economic output in excess of $8.16 billion. (4)
+ Potential 50% stamp duty savings.
+ Fully Leased Net Income: $271,461 pa* + GST
For Sale by Expressions of Interest
Closing 3pm (AEST) Thursday 26 September 2024
1 Subway
2 Augustus Gelatery
3 Pizza Hut
4 REMPLAN
