Skip Ribbon Commands
Skip to main content

News release

SYDNEY

Gundagai Marketplace

A Woolworths Leased asset for sub $10m investors


​Anchored by Woolworths and BWS liquor, 246-250 Sheridan Street, Gundagai, NSW is being offered for sale to the market and is ideal for investors looking for a low risk commercial asset with attractive returns.

Located in the heart of Gundagai, the property has a site area of circa 5,400 sqm and a wide 56m frontage, and is strategically placed between Melbourne and Sydney on the Hume Highway transport route.

JLL Director of Retail Investments, Stuart Taylor and JLL Manager, Metro Sales and Investments – NSW, Dylan McEvoy have been appointed to market the site on behalf of a private investor.

The commercial retail asset holds multiple tenants, anchored by Woolworths, who makes up over 95% of income and has a 20-year lease that commenced in 2011, with options until September 2071. The site has approximately 60 on-site car spaces, plus kerbside parking, and is positioned directly opposite the Gundagai Tourist and Travel Centre and bus stop/interchange.

Mr McEvoy said 'We are noticing a resurgence of investors looking in regional locations for property with top tier covenants. These regional opportunities offer attractive returns when compared to major urban areas like Sydney or Melbourne of which many investors are priced out of these markets.

"The investment is located in the main retail thoroughfare, Sheridan Street, ensuring it will remain a focal point of activity well into the future.  It has the additional benefit of rear street exposure via Sheridan Lane allowing ease of access to the Woolworths loading dock."

Mr Taylor said "retail assets with strong lease covenants such as Woolworths continue to be hotly contested. With high liquidity levels in the market, these assets attract investors as they are considered to be low risk, defensive assets, offering strong security of income."

"With a Net Income of approximately $400,000 p.a. Gundagai Marketplace represents a rare opportunity for investors to gain exposure to the Woolworths lease covenant at a lower price point for supermarket investment assets"

"We expect interest from a broad range of private investors, particularly from Sydney, Melbourne and potentially Canberra given the assets strategic location just between the Victorian and NSW capital cities"

246-250 Sheridan Street is being offered via an Expressions of Interest campaign closing Tuesday 11th July 2017.