New South Coast retail investment fetches $17m
A new South Coast convenience retail investment offered in three parts, sold to one investor.
The Nowra complex (pictured, top), with a 7-Eleven/Carl’s Jr, El Jannah and Petbarn, collected $16.81 million.
The yield for the El Jannah was lowest at five per cent.
The restaurant is on a lease expiring 2035 with two five year options.
It also picks up all outgoings including management and land tax.
The 7/Eleven and Carl’s Jr is subject to a 12 year lease with fixed three per cent annual rent rises.
The entire asset spreads 3110 sqm with 78 metres of Princes Highway frontage, opposite Nowra Central Plaza.
The incoming owner will be able to claim depreciation benefits for tax.
Burgess Rawson from CBRE’s Yosh Mendis, Geoff Sinclair, Justin Kramersh, Neville Smith and Zomart He were the agents.
Also today we are reporting Unikorn Capital bought North Wyong Village on the South Coast.
Subscribe to our newsletter at the bottom of this page.
