AIRR HQ sells on 5.7pc yield
The rural headquarters of Elders subsidiary the Australian Independent Rural Retailers, sold at auction last month.
The $7.5 million result for 74-76 Drummond Street, Shepparton, reflects a 5.7 per cent net passing yield.
On 8094 square metres in the heart of the town’s industrial precinct, the asset contains adjoining improvements with a total 3803 sqm.
AIRR picks up all outgoings and building insurance on a lease expiring 2031.
Rent is linked to CPI.
There is one review, for five years.
Burgess Rawson from CBRE’s Beau Coulter and Matthew Wright with Gagliardi Scott Real Estate’s Rocky Gagliardi were the agents.
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