CBRE is offering for sale IGA Local Grocer + Liquor Northcote, representing a secure supermarket investment with exceptional investment fundamentals.
Key details are summarised below:
+ IGA Local Grocer + Liquor Supermarket with 10 year net lease expiring 2031, plus 3 x 10 year options to 2061
+ 100% leased to blue chip tenant and low exposure to land tax
+ Net income of $185,763* per annum as at August 2024 with annual increases providing guaranteed income growth
+ Excellent visibility to 36,000*^ vehicles passing daily via St Georges Road - Northcote's main commercial and retail tree-lined boulevard
+ Boasting excellent investment fundamentals being directly opposite a major tram stop, with direct access to the property via pedestrian crossing, having Commercial 1 Zoning and extensive high exposure street frontage to St Georges Road
+ Walking distance to Northcote High School, Santa Maria College and Northcote Primary School, in addition to essential amenities such as Northcote Train Station
+ Proximate to an abundance of open space via Merri Creek trail, All Nations Park, Northcote Golf Course and a bike track running directly along St Georges Road's spine
The property is for sale via expressions of interest closing Wednesday 12th June at 2:00pm (AEST).
Please contact CBRE for more information and to organise an inspection of the property.
Scott Hawthorne
+61 400 861 048
scott.hawthorne@cbre.com.au
Nathan Mufale
+61 421 224 354
nathan.mufale@cbre.com.au
CBRE Asian Services Desk:
Jing Jun (JJ) Heng ()
+61 411 059 116 ()
jj.heng@cbre.com ()
jheng1206 ()
*Denotes Approx.
