Bernardi’s Marketplace Forbes sold with leaseback
The Bernardi family has sold the eponymous Marketplace Forbes with a 10 year initial leaseback.
On 8461 square metres at 159-173 Lachlan Street, the result would circle $9 million assuming a six per cent net passing yield.
The 5248 sqm complex was built for the supermarket which has been associated with the site since 1969.
The property also contains a portion which acts a distribution centre.
There is also a chemist tenancy and 91 undercover car parks – the only bays of this type in Forbes.
Long leaseback
With options, the Bernardi family can stay at the Forbes site until 2065.
The initial agreement includes a mix of fixed three per cent rent rises and market reviews.
JLL’s David Mahood and Sebastian Fahey were the agents.
“Purchased by a private investor, Bernardi’s Marketplace Forbes was hotly contested, resulting in an unconditional signed contract at the conclusion of the expressions of Interest sale campaign,” they said.
Forbes is about 390 kilometres west of Sydney’s CBD.
Earlier this year, we reported Australia Post announced plans to build a major distribution centre on a site it owns there.
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