BRAND NEW FREESTANDING SUPERMARKET WITH NEW 12-YEAR NET LEASE
12+5+5 year lease to Drakes Supermarkets
New Standalone Supermarket
Significant Depreciation Benefits
CBRE Capital Markets are thrilled to bring to market, a truly outstanding investment leased to Australia’s largest independent supermarket operator, Drakes Supermarkets. Drakes have an annual turnover of over $1Billion pa and operate over 50 stores in South Australia and Queensland.
Located on the corner of Waterloo Corner Road & Whites Road, Drakes have successfully traded from this prominent location for a number of years. The full redevelopment was completed in August 2020 offering significant potential depreciation benefits.
Key investment highlights:
- No stamp duty.
- Net Rental of $563,190pa (approx.) with prospective further upside through Turnover Rent provision.
- 12-year net lease (with 2 x 5 year options to renew) to Drakes Supermarkets. Lease commenced September 2020 with Base Rent reviewed by CPI annually.
- 15-year lease (with 2 x 5 year options to renew) to Telstra for Communications Tower. Reviewed annually with 3% increases.
- Drakes are responsible for all statutory outgoings including Land Tax.
- Brand new improvements of 2,133sqm (approx.) on a large corner site of 6,363 (approx.)
- 92 at grade car parks.
- Zoned Neighbourhood Centre by City of Salisbury.
For Sale by Expression of Interest closing Wednesday 21 October 2020 at 4pm (ACDT)