Retail for Sale, 1 Mildred Street, Barossa Valley, 5373

Back to results

For Sale - Retail, Commercial

PROMINENT RETAILER IN THE CENTRE OF TOWN

Highlights

Market dominating tenant
Strong Lease covenant
Kapunda’s 24 hour retailer

Overview

CBRE are proud to present this property as a part of the On The Run portfolio comprising 4 properties. 1 Mildred Street, Kapunda is a 24 hour retailer in the town of Kapunda. This multi-tenanted asset sits on the main thoroughfare linking the outskirts of Adelaide to one of the Murray River’s most popular holiday destinations. The property has a long-term lease to On The Run and Subway (as part of the OTR franchising agreement). 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. INVESTMENT HIGHLIGHTS: LESSEE: On The Run Pty Ltd TERM: 15 years commencing 1 March 2020 OPTIONS: 10x5 years INITIAL RENT: OTR - $320,000 pa net (approx) Subway - $30,000 pa net (approx) (with annual 2.75% fixed reviews) PROPERTY PORTFOLIO OPTION: 1 Mildred Street, Kapunda SA 5373 89 Military Road, West Beach SA 5024 303 Glen Osmond Road, Glenunga SA 5064 591 Grand Junction Road, Gepps Cross SA 5094 *approx

Less