PASSIVE LONG-TERM INVESTMENT TO HIGH PROFILE TENANT
Market dominating tenant
Strong lease covenant
Rare long-term income security
CBRE are proud to present this property as a part of the On The Run portfolio comprising 4 properties.
303 Glen Osmond Road, Glenunga is located in Adelaide’s affluent South-East, OTR Glenunga is the first service station and convenience retailer en route from the CBD to the Adelaide Hills. Surrounded by many complimentary retailers, this service station is a significant offering just on the edge of the Adelaide CBD.
OTR (On The Run Pty Ltd) is the largest private employer (3,500 employees*) in South Australia and is a part of the Peregrine Group of companies making it a part of the 11th largest private company in Australia – despite only operating out of SA. OTR started with a humble investment in Adelaide’s North-Western suburbs in 1984 and has swiftly grown to own over 150 sites.
The property can be acquired as a single investment or within a portfolio of four Service Stations.
LESSEE: On The Run Pty Ltd
TERM: 15 years commencing 1 March 2020
OPTIONS: 10x5 years
INITIAL RENT: $330,404 pa* net with annual 2.75% fixed reviews.
PROPERTY PORTFOLIO OPTION:
303 Glen Osmond Road, Glenunga SA 5064
89 Military Road, West Beach SA 5024
1 Mildred Street, Kapunda SA 5373
591 Grand Junction Road, Gepps Cross SA 5094