Another Dan Murphy’s backed investment has sold for an eight figure sum – this time in Bathurst.
The $11.187 million price for 57 George Street reflects a 4.5 per cent yield, which the agents say is a record for a regional NSW asset of this type.
On 3952 square metres, the property contains a 1282 sqm structure and customer car park.
“The asset class remains a highly sought after sector in the Australian market with groups bulking up on essential service and daily needs [product],” Savills Steven Lerche, who marketed the property with Andrew Palmer said.
“Freestanding supermarket yields over this four year period have tightened due to unprecedented demand and yields are now creeping into the high 3pc territory due to private investors willingness to accept lower returns,” he added.
String of Dan Murphy’s deals
Last December, a Dan Murphy’s backed store in Sydney’s south west Gladesville traded for $10.8m – reflecting a 3.8pc net return (story continues below).
Two assets leased to the retailer sold two months before that: a near new store at 718-728 Military Road, Mosman, which collected $13.25m for Charter Hall (struck at a 4.8pc yield), and a Wangaratta facility, for $8.1m (a 4.3pc return based on estimated turnover rent).
The latter found a buyer six days after it listed.
Last July, AFR Rich List member George Kepper banked a speculated $12.5m offloading a bottle shop leased to the retailer, in Melbourne’s east Chirnside Park.
In 2015, Dan Murphy’s Queanbeyan – 250km south of Bathurst – traded for $11.3m.
That deal reflected a 4.72pc yield.
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