Jones Real Estate is privileged to present Coles, 101-107 East Street, Narrandera to the market, For Sale via Private Negotiation.
Presenting a rare opportunity to acquire a freestanding supermarket on an irreplaceable 5,606sqm* Village Zoned (RU5) landholding, with 54 car parks and 242m* of frontage to East St, Bolton St, Charles St and ROW, in the heart of Narrandera's shopping precinct.
Offering a highly sought after brand new 10-year lease, returning a base rental of $464,503.46** + turnover rent per annum plus GST & Outgoings. This generational asset in NSW's regional epicentre is future proofed for many years to come.
Key highlights of this trophy investment include:
- Net lease to ASX listed powerhouse, Coles Group Limited, a top ASX listed company with a market capitalisation of $23 Billion, trading as Coles and Liquorland^.
- Coles is one of Australia's leading retailers with an extensive national footprint of 1,800 supermarkets and liquor stores^.
- Rare net lease structure with the tenant paying 100% of the building outgoings, including land tax.
- Year 1 projected rental of $494,276.42*** per annum plus GST & Outgoings.
- Brand new 10-year lease until 2034 with options through to 2054 following a 15-year initial term already completed.
- Freestanding supermarket offering 5,606sqm* of land area, boasting a combined street frontage of 242m* to East St, Bolton St, Charles St and ROW, whilst located within the regional heartland of NSW between Wagga Wagga and Griffith.
- 100% leased to Coles Group Limited trading as Coles and Liquorland with an NSA of 2,119sqm*.
- Opportunity to target a defensive income stream with proven resilience during economic uncertainty.
*APPROX.
**ESTIMATE USED FOR FINAL YEAR OF PERCENTAGE RENT, BASED ON SALES AVERAGES FROM APR23 - FEB24 (11 MONTHS) NOT TO BE RELIED UPON.
***AVERAGE OF PRIOR 3 YEARS TURNOVER RENT PLUS ANTICIPATED BASE RENTAL - NOT TO BE RELIED UPON.
^SOURCE: COLES GROUP
For further information or to schedule a private inspection of the opportunity, please contact the exclusive selling agents.
Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.
