Perth, 14 June 2016 – A securely leased investment opportunity in the heart of Kalgoorlie-Boulder’s business hub is being offered for sale.
Located on the corner of Boulder Road and Cheetham Street, the property at 29 Boulder Road is occupied by automotive parts specialist Covs Parts – a wholly owned subsidiary of ASX-listed GPC Asia Pacific Pty Ltd.
CBRE’s Richard Cash and Matthew Elliott, who have been appointed to sell the property via Private Treaty, said the property offered an attractive investment opportunity in one of Western Australia’s largest regional centres.
“This represents an outstanding opportunity to acquire an attractive investment in an established location, with the added security of an ASX-listed tenant,” Mr Cash said.
“Located in close proximity to Hannan Street – Kalgoorlie-Boulder’s main thoroughfare – this property also offers development potential that will attract developer interest.”
Located on a 3,019sqm site, the property includes a 1,630sqm showroom/office building currently accommodating Covs Parts’ automotive showroom.
The property is currently leased on a five year term, expiring in 2021.
Mr Elliott said securely leased retail investments at the asking price point were difficult to secure in the current market.
“Covs Parts is a long term tenant that has recently exercised an option for a further five year term, giving investors’ confidence of a secure income stream, backed by an international covenant,” Mr Elliott added.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.