Dominant Convenience Retail Freehold Investment with Brand New 12 Year Lease
656 Torrens Road, Pennington SA
+ Brand new 12 year net lease to 2033 plus options to 2063.
+ United Petroleum: Top-tier tenant, one of Australia’s largest and fastest growing independent fuel retailers with over 460 sites nationally.*
+ Secure, set-and-forget net lease structure with tenant responsible for council rates, water rates, insurance and repairs and maintenance.
+ Strong and certain rental growth with annual, fixed compounding 2.5% increases.
+ Prominent 2,978 sqm land holding with combined 141 metres of frontage and exposure.
+ High profile corner site along Torrens Road, a major arterial road linking the North-Western suburbs to Adelaide CBD – servicing an average of 22,000+ vehicles per day.**
+ Located opposite the new Pennington St Clair residential and commercial development, a $500million project with 1,200 dwellings and Coles Supermarket anchored shopping centre.
+ Surrounded by important social infrastructure, including 15 schools within 3km servicing a combined 5,173 full time students. **
+ The City of Charles Sturt is the 4th largest LGA in South Australia, with population forecast to grow 14% to 137,635 by 2036. ***
+ The value of building approvals in Charles Sturt has grown 105% to $758 million since FY2018/2019 ****
+ Currently $2.6 billion worth of current projects in the investment pipeline, including $9 million to improve and renew 550km of road networks across the City Council *****
+ Minimum management, essential service investment.
+ Rent: $225,000 + GST
To be sold by Investment Portfolio Auction:
Wednesday 15 December 2021
Southbank, Crown Casino, Melbourne
***SA Government Website
******City of Charles Sturt
*All areas and figures approx only. All boundaries are indicative only. All precaution has been taken to establish the accuracy of all information but does not constitute any representation by the Vendor or Agents.