Southern Highlands IGA sold off-market
The Moss Vale IGA, part of which is fit out with an Australia Post, has sold off-market.
At 11-13 Clarence Street, the 3111 square metre Local Centre zoned holding collected $13 million from a Sydney investor.
Once a Tuckerbag, it previously traded in mid-2016 for $9.025m.
Then, the annual income was $670,000, with IGA on a lease expiring in 2023.
The supermarket is now committed to 2038.
Australia Post contributes to 10 per cent of the income.
The asset’s weighted average lease expiry is 11.5 years.
Burgess Rawson from CBRE’s Justin Kramersh brokered the deal.
Moss Vale, part of the Southern Highlands, is about 130 kilometres south west of Sydney’s CBD.
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