A private investor has listed a retail property in the township of Nuriootpa for sale, with low-mid 7% return expectations.
The listing offers keen investors a chance to purchase a leased investment in the Barossa Valley’s major commercial centre.
Located in the heart of town, 26 Murray Street features a new three-year lease to ASX-listed Westpac (trading as BankSA), on a net annual income of $95,402, with two three-year options and annual CPI increases.
The 719sqm property benefits from 366sqm of office space, over 18m of street frontage to the main retail and commercial strip, secure rear car parking for up to seven vehicles and District Town Centre zoning.
CBRE’s Ned Looker, Rhyce Scott and Harry Einarson have been appointed to market the property for sale via an onsite auction on September 12 at 11:00am.
Mr Looker commented that investors would be drawn to the fact they could secure a premium building with a strong rate of return in today’s market.
“We believe the offering of a premium lease covenant is generous for the low-mid 7% return we are seeking, especially with the low growth of money in the bank,” Mr Looker said.
Mr Scott noted that Nuriootpa had seen continued population growth and was commonly referred to as the “business centre of the Barossa”.
“As 26 Murray Street offers investors a long-term strategic land banking opportunity and a solid current investment, we expect the auction will be well attended by both locals and suburban investors wanting to lock something into their self-managed super funds,” Mr Scott said.
Mr Looker added that the building was flooded with natural light through the southern wall, which is mostly glass and overlooks the park.
The listing offers keen investors a chance to purchase a leased investment in the Barossa Valley’s major commercial centre.
Located in the heart of town, 26 Murray Street features a new three-year lease to ASX-listed Westpac (trading as BankSA), on a net annual income of $95,402, with two three-year options and annual CPI increases.
The 719sqm property benefits from 366sqm of office space, over 18m of street frontage to the main retail and commercial strip, secure rear car parking for up to seven vehicles and District Town Centre zoning.
CBRE’s Ned Looker, Rhyce Scott and Harry Einarson have been appointed to market the property for sale via an onsite auction on September 12 at 11:00am.
Mr Looker commented that investors would be drawn to the fact they could secure a premium building with a strong rate of return in today’s market.
“We believe the offering of a premium lease covenant is generous for the low-mid 7% return we are seeking, especially with the low growth of money in the bank,” Mr Looker said.
Mr Scott noted that Nuriootpa had seen continued population growth and was commonly referred to as the “business centre of the Barossa”.
“As 26 Murray Street offers investors a long-term strategic land banking opportunity and a solid current investment, we expect the auction will be well attended by both locals and suburban investors wanting to lock something into their self-managed super funds,” Mr Scott said.
Mr Looker added that the building was flooded with natural light through the southern wall, which is mostly glass and overlooks the park.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
