Autobarn Freehold with Value-Add | Autobarn’s Only Store on the Mornington Peninsula
903 Nepean Highway , Mornington VIC
Property Highlights
Description
Trophy 2,204sqm* corner landholding with very low 34% site coverage*.
High profile Nepean Highway position with 29,290* vehicles passing daily (1).
The only Autobarn store on the Mornington Peninsula, with a growing population of 168,990 (2).
The Autobarn brand is owned by Bapcor (ASX: BAP), a retail network of over 1,000 stores including stablemates AutoPro, Midas, Burson and ABS Brakes.
Bapcor Retail recently announced 2 year profit growth of 58.83%.
Current lease and options expire in February 2031, providing potential to expand and/or add-value STCA.
Fixed 3.5% annual rent increases providing strong and certain growth.
Prime retail position within 350 metres of Toyota, Ford, Kia, Mazda, McDonald’s, KFC, Hungry Jack’s, Bridgestone, Kennards and Petbarn.
Mornington: booming sea-change and tourism destination with 8% forecast population growth by 2036 (2).
Net Income: $203,384pa + GST
For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 14 September 2022
Crown Casino – River Room – Melbourne
*Approx
1. GapMaps
2. id
Property Details