Investors spend big on bottle shops
Investors spent nearly $28 million on bottle shop investments at a bulk auction event today.
In the priciest deal, a Dan Murphy backed asset in Canberra’s Dickson traded for $15.16, reflecting a 4.25 per cent net yield.
Abutting a Woolworths supermarket and near several modern apartment buildings, the asset, 44 Dickson Place, was offered with an initial 10 year lease.
Dan Murphy only moved in last year, the 1522 square metre building previously occupied a Harris Scarfe.
In Sydney’s Maroubra, a standalone, 1114 sqm property leased to Coles’ First Choice Liquor, traded for $10.17m – a low 3.43pc net return.
The 1892 sqm site, 52-58 Maroubra Road, also contains 21 car parks.
The tenant is on a commitment expiring in 2026 however, with options, it can stay for 40 more years (story continues below).
The smallest bottle shop to sell – 28 Park Street, Woonona, a northern suburb of Wollongong, collected $2.51m.
It is occupied by Coles backed Liquorland for an initial five years.
The assets formed part of a portfolio of 16 properties auctioned by Burgess Rawson at the Sydney Opera House today.
Nine ended up trading.
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