Burgess Rawson is pleased to offer to the market Original Mattress Factory (OMF) Warrawong located at 87-89 King Street, Warrawong (Wollongong) NSW for sale via our Investment Auction Portfolio 171.
This opportunity has the following key investment highlights:
+ Renewed lease plus options to 2031 (longstanding national tenant on-site 16+ years)
+ Original Mattress Factory (OMF): National large format retailer & Australia's largest sleep specialist with 50 retail stores and 2 distribution centres covering 3 states and 1 territory
+ Key LFR precinct, with prime exposure to vital NSW South Coast arterial, King Street with exposure to thousands of vehicles passing daily
+ Strategic and tightly held location surrounded by national and international tenants including McDonalds, The Good Guys, BCF, KFC, The Bayview Centre and the soon to be redeveloped Warrawong Plaza, anchored by Woolworths, ALDI and Coles
+ Positioned on a highly exposed 1,271 sqm* freehold landholding, with 36m* of frontage to King Street, benefiting from 10 valuable on-site parking spaces
+ Easily managed single tenant investment in key NSW South Coast growth area
+ Strong rental upside and investment repositioning potential with no further options after 2031
+ Attractive rent review structures linked to CPI annually (capped at 4%)
+ Warrawong: suburb of Wollongong, a highly sought after location in NSW's South Coast with population forecast to grow by 31.7% to 291,797 by 2046^.
+ Net Income: $122,721 pa* + GST
To be sold by Investment Portfolio Auction
10:30am AEST Tuesday 17 September 2024
Yallamundi Rooms, Sydney Opera House
Please contact the exclusively appointed sales team for more information.
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