21 Myrtle Street Myrtleford VIC 3737

PRIME RETAIL PROPERTY INVESTMENT LEASED TO SUBSIDUARY OF INTERNATIONAL PUBLICALLY LISTED COMPANY

CRE Brokers are proud to offer this prime retail property investment opportunity leased to a subsidiary of Vail Resorts Inc (USA, NYSE: MTN) a publicly traded corporation on the New York Stock Exchange. Vail Resorts Inc operates over 40+ resorts and numerous lodging, real estate & retail snowfield businesses in Australia, the USA, Canada and Europe employing up to 52,500 year round and seasonal people worldwide each year.

This is the first time this site has been offered to the market in 65 years!

This corner site of 3,298m2 (approx.) is the long-time home of Ray's Ski Hire, an established business synonymous with the Victorian ski fields. Ray's, owned by Vail Resorts, is a one-stop shop servicing the vast passing traffic traveling on the Great Alpine Road to the Victorian snowfields of Falls Creek and Mount Hotham. The retail building comprises some 895m2 (approx.) of retail, office and storage space over two levels and boasts a premium exposure to the Great Alpine Road of in excess of 50 metres with a large public car park accessed from the side street Willow Grove.

The current lease term of 5+5+5 years commenced on 31st December 2022 and provides a strong current rental return of $146,558.70 per annum plus gst and outgoings (excluding building insurance) with annual increases to CPI.

This highly prized property comes with the benefit of a strong yearly rental return from the subsidiary of an public international company and provides security in the short term with ample options for future development in the years ahead.

Contact Rod Devlin mobile: 0418 361 935 or via email: rod@crebrokers.com