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147-159 Whites Road Salisbury North SA 5108

  • Shop & Retail
  • 2,133 m²
  • Expressions of Interest

BRAND NEW FREESTANDING SUPERMARKET WITH NEW 12-YEAR NET LEASE

  • 12+5+5 year lease to Drakes Supermarkets
  • New Standalone Supermarket
  • Significant Depreciation Benefits

CBRE Capital Markets are thrilled to bring to market, a truly outstanding investment leased to Australias largest independent supermarket operator, Drakes Supermarkets. Drakes have an annual turnover of over $1Billion pa and operate over 50 stores in South Australia and Queensland.

Located on the corner of Waterloo Corner Road & Whites Road, Drakes have successfully traded from this prominent location for a number of years. The full redevelopment was completed in August 2020 offering significant potential depreciation benefits.

Key investment highlights:

- No stamp duty.
- Net Rental of $563,190pa (approx.) with prospective further upside through Turnover Rent provision.
- 12-year net lease (with 2 x 5 year options to renew) to Drakes Supermarkets. Lease commenced September 2020 with Base Rent reviewed by CPI annually.
- 15-year lease (with 2 x 5 year options to renew) to Telstra for Communications Tower. Reviewed annually with 3% increases.
- Drakes are responsible for all statutory outgoings including Land Tax.
- Brand new improvements of 2,133sqm (approx.) on a large corner site of 6,363 (approx.)
- 92 at grade car parks.
- Zoned Neighbourhood Centre by City of Salisbury.

For Sale by Expression of Interest closing Wednesday 21 October 2020 at 4pm (ACDT)

EXPRESSION OF INTEREST

Closing date and time21/10/2020 04:00
Recipient nameAsk Agent
Delivery addressCBRE

Property Highlights

Property ID2016511393
Floor Area2,133 m²
Land Area6,363 m²
ParkingOn site parking available
Building TypeWhole building
Annual ReturnAsk Agent
AvailabilityTenanted
Category
Last updated  24 Sep 2020
Map for 147-159 Whites Road Salisbury North SA 5108
Map for 147-159 Whites Road Salisbury North SA 5108147-159 Whites Road Salisbury North SA 5108
CBRE South Australia RLA 208125
Level 5 151 Pirie Street Adelaide SA 5000

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