Peter Terry Group sells major Bathurst car dealership
The Peter Terry Group has offloaded a major Bathurst car dealership.
On 1.47 hectares with a 3120 square metre showroom and service centre, 10 Corporation Avenue collected $15 million – a 7.01 per cent net passing yield – from a Sydney investor.
Autopact, owned by Tokyo listed Optimus Group, once owned by local car dealer and racer, Peter Terry, is the occupier.
“Following a highly competitive expressions of interest campaign, the property achieved…an exceptional result that highlights the growing strength and importance of regional retail investment across Australia,” Next Commecial’s Ryan Cross, who brokered the deal with Anthony Bray, said.
“The private investor was drawn to the long lease, with the current term expiring in November 2031 and further option periods extending to 2044, as well as the security of a global tenant,” he added.
Bathurst is about 200 kilometres west of Sydney.
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