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Freestanding Melbourne Coles Group Investment

29-33 Synnot Street (Princes Highway), Werribee VIC

Property Highlights

New, long term lease to Coles Group
Annual compounding 3% rent increases
Metro Melbourne growth location

Description

Single, long-term, secure income stream underpinned by top tier lease covenant.
First Choice Liquor Market: a growing chain of 37 stores and wholly owned by Coles Group, $20 billion, ASX-listed retailer.
Significant and strategic corner of Synnot Street (Princes Highway) and Duncans Road within the burgeoning Werribee CBD, supported by Coles, Bunnings, McDonald’s, 7-Eleven, KFC and major banks all within 350 metres.
Central Activity Centre Zoned site of 2,543 sqm* offering a combined frontage of 105 metres and exposure to circa 47,000 vehicles daily**.
Directly opposite $49,500,000, 12-level, Holiday Inn/Office/Education development*** (under construction).
Long established liquor store, completely refurbished in June 2019.
Brand new 7 year net lease plus 8 x 5 year options.
Annual fixed, compounding 3% rent increases, ensuring strong and certain rental growth.
Significant depreciation benefits with approximately 33% of year 1 rent potentially tax deductable.****
Coles Group responsible for Land Tax (on a single holding basis) Council Rates, Water Rates, Public Liability Insurance and repairs and maintenance.
Extremely tightly-held large format liquor freehold investment: there have been no sales in the sector so far in 2019 and there were just 3 sales in 2018.
Werribee: booming suburb 32 km* from Melbourne with forecast 88% population growth by 2041.*****
Estimated net rent: $318,000 pa.

For Sale by Auction
12 noon 30 October 2019
River Room, Crown Casino, Melbourne

*All rents, areas and measurements are approximate only, and boundary mark ups are indicative only.
**VicRoads
***Cordell
****Napier & Blakeley
*****forecast.id

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Liquor
Land Size
2,543 SQM
Building Area
1,030 SQM

Contact Agents

Billy Holderhead

0422 817 696

Contact Me

Jamie Perlinger

0413 860 315

Beau Coulter

0413 839 898

Zomart He

0488 220 830

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