Iga Supermarket, 146 Green Street Lockhart NSW 2656

Lockhart is a small rural community in the heart of the rich agricultural area of the Riverina. Wagga Wagga is approximately 65 kilometres away. Lockhart is famous for it heritage township. It is known as the “Verandah Town”. The subject property is in the main retail street. The property comprises a traditional country supermarket which has been extended by the purchase of adjoining buildings. The historic facades have been retain but inside is a modern supermarket with separate liquor, deli/meat and fresh fruit and vegetable departments. The tenant has operated the premises for the past 14years during which time the turnover has approximately quadruppled. A new 10 years lease is to be signed prior to 11/11/03 and will be guaranteed by IGA Distribution Pty Limited a fully owned subsiduary of Metcash Limited. The initial rent will be $60,000pa net plus GST with the tenant paying all outgoings. The rent will be increased annually by 75% of the CPI