CBRE is pleased to offer to the market IGA Local Grocer Wollert, located at 40 Steen Avenue, Wollert VIC 3750, for sale via Investment Portfolio Auction 183.

This opportunity has the following key investment highlights:

+ New Five (5) year net lease to IGA Local Grocer Wollert commencing 1 March 2025 through to 2030.
+ Two (2) further five (5) year options extending to 2040.
+ IGA Local Grocer Wollert: a full-line neighbourhood supermarket and bottle shop, operating 7 days a week and part of one of Australia’s largest independent grocery brands IGA.
+ Attractive and landlord-favourable fixed 3.5% annual rent increases, ensuring compounding rental growth.
+ Net lease structure with Tenant responsible for 100% of Building Outgoings.
+ Brand new construction, offering income tax-saving depreciation benefits.
+ Strong security with two (2) months’ Bank Guarantee plus personal guarantee to the performance of the lease.
+ Exclusive Use: Landlord has covenanted that no other lot within the development will be permitted to operate as a retail liquor store, providing the tenant with a protected trading position.
+ Wollert: a high-growth northern Melbourne corridor experiencing rapid residential expansion with significant infrastructure investment and population growth.
+ City of Whittlesea: One of Victoria’s fastest growing municipalities, underpinned by sustained demand for essential retail services and neighbourhood convenience.
+ Net Income: $76,650pa* + GST

For Sale by Investment Portfolio Auction
10:30 am AEDT Wednesday 1 April 2026
Garden Room, Melbourne Crown Casino, VIC

Please contact the exclusively appointed team for more information.