15 YEAR LEASE TO WOOLWORTHS GROUP LTD
Dawkins Occhiuto is pleased to present for sale Dan Murphy’s Chirnside Park, a purpose-built (2017) freestanding liquor store constructed upon a high exposure Commercial 1 Zoned site.
Underpinned by one of Australia’s most prized ASX listed lease covenants, the property offers a passive, long-term, highly secure income stream.
In the current economic environment there is no more secure property investment opportunity.
The property occupies a high exposure corner position opposite Chirnside Park Shopping Centre surrounded by Reading Cinemas, Hungry Jacks, Red Rooster and 7-Eleven. It forms part of the Eastridge estate, an emerging mixed use precinct with significant future development planned.
The property features:
- Total building area of 1,387 square metres*
- Large Commercial 1 zoned site of 5,917 square metres*
- Corner position and Maroondah Highway exposure
- Easy ingress and egress from all directions
- Significant depreciation benefits
- 15 year lease (commenced December 2017) with options to 2062
- Fixed rental increases and turnover rent provisions
- Net lease including single holding land tax and all usual outgoings
- Passing base rent $493,437 per annum*
The clear market leader in the sector, Dan Murphy’s operates 239 stores nationally as part of Australia’s largest integrated drinks and hospitality business (Endeavour Group) with sales of approximately $10 billion.
The only large format liquor store east of Ringwood, the property benefits from a large geographic catchment, growing population and favourable demographic.
For further details please contact exclusive marketing agents, Dawkins Occhiuto.