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For sale

Coles, 101-107 East Street, Narrandera

A WORLD CLASS INVESTMENT OPPORTUNITY WITH 100% OF INCOME GUARANTEED BY COLES FOR 10 YEARS WITH TURNOVER RENT!

Jones Real Estate is privileged to present Coles, 101-107 East Street, Narrandera to the market, For Sale via Private Auction on Tuesday 23rd April 2024. Registration with the Jones Real Estate team is essential in order to participate. In-room auction events will be held concurrently in Melbourne & Sydney.

Presenting a rare opportunity to acquire a freestanding supermarket on an irreplaceable 5,606sqm* Village Zoned (RU5) landholding, with 54 car parks and 242m* of frontage to East St, Bolton St, Charles St and ROW, in the heart of Narrandera’s shopping precinct.

Offering a highly sought after brand new 10-year lease, returning a base rental of $464,503.46** + turnover rent per annum plus GST & Outgoings. This generational asset in NSW’s regional epicentre is future proofed for many years to come.

Key highlights of this trophy investment include:

– Net lease to ASX listed powerhouse, Coles Group Limited, a top ASX listed company with a market capitalisation of $23 Billion, trading as Coles and Liquorland^.

– Coles is one of Australia’s leading retailers with an extensive national footprint of 1,800 supermarkets and liquor stores^.

– Rare net lease structure with the tenant paying 100% of the building outgoings, including land tax.

– Year 1 projected rental of $494,276.42*** per annum plus GST & Outgoings.

– Brand new 10-year lease until 2034 with options through to 2054 following a 15-year initial term already completed.

– Freestanding supermarket offering 5,606sqm* of land area, boasting a combined street frontage of 242m* to East St, Bolton St, Charles St and ROW, whilst located within the regional heartland of NSW between Wagga Wagga and Griffith.

– 100% leased to Coles Group Limited trading as Coles and Liquorland with an NSA of 2,119sqm*.

– Opportunity to target a defensive income stream with proven resilience during economic uncertainty.

*APPROX.
**ESTIMATE USED FOR FINAL YEAR OF PERCENTAGE RENT, BASED ON SALES AVERAGES FROM APR23 – FEB24 (11 MONTHS) – NOT TO BE RELIED UPON.
***AVERAGE OF PRIOR 3 YEARS TURNOVER RENT PLUS ANTICIPATED BASE RENTAL – NOT TO BE RELIED UPON.
^SOURCE: COLES GROUP

For further information or to schedule a private inspection of the opportunity, please contact the exclusive selling agents.

Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.

Property Type

Commercial, Retail

Address

Coles, 101-107 East Street, Narrandera NSW 2700

Method of sale

Auction

Auction Date

April 23, 2024 - 12:00 pm

Land Area

5606 sqm

Floor Area

2119 sqm

Occupancy

Tenanted

Price guide

$6,500,000 - $7,150,000

Map of: Coles, 101-107 East Street NSW 2700

Helping build, manage and negotiate strong, sustainable, market-leading investments.

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