New convenience investment fetches $8.05m

The investment earns $374,909-ex GST in annual rent and offers depreciation benefits.

A new convenience investment at Bomaderry, near Nowra, has traded for $8.05 million – a price which reflects a 4.66 per cent passing yield.

The 5030 square metre site at 273 Princes Highway – accessed from the neighbouring Coles Express service station – contains three standalone buildings, one rented to Elephant Car Wash.

A second structure is leased to Red Rooster.

The smallest building is fit out as a Domino’s.

Abutting this, is an outdoor dining space with a caravan, occupied by Harry’s Café de Wheels.

The balance of the site is configured as a car park (story continues below).

The property contains a dining area occupied by Harry’s Cafe de Wheels.

All occupiers save for the pizza parlour have signed 10 year leases.

The parcel is in a busy pocket, also near a KFC, Hungry Jack’s, McDonald’s and Woolworths/BWS.

Bomaderry is about 160 kilometres south of Sydney.

The asset was marketed by Cushman & Wakefield’s Michael Collins and Yosh Mendis.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco