New convenience investment fetches $8.05m
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).
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.
