High Return Opportunity for Investors – Recession Proof Long-Term Tenant

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High Return Opportunity for Investors – Recession Proof Long-Term Tenant

Independent Business Nicholls 2913, ACT $2,257,000
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New to the market is a substantial section of the Nicholls Shopping Centre currently occupied by the local IGA store and an adjoining sublet restaurant.

The main supermarket tenant has operated there since the shops first opened in August 2008.

On offer is an approximately 580 square metres of space, 445 square metres is occupied by the supermarket and the balance is occupied by a restaurant with a new 5 year lease.

Please Note: The current owner will enter into a new 5 + 5 + 5 lease back arrangement on settlement with buyer for the supermarket site. A new sublease is in place for the adjoining
restaurant.

Features Include:
* Approximately 580 square metres of floor space
* On-site amenities
* Roller door access
* Parking at the front of premises

OTHER INFORMATION:

Supermarket:
* Rent Per Annum: $185 + GST Initial rent
* Annual increases: 2.5%
* Director’s guarantees will be provided for rent in lieu of bond
* No additional Outgoings by tenant
* 5 + 5 + 5 lease back to be arranged

Restaurant:
* Leased to 31st of January 2025 + 5 year option
* 4% annual increases
* 3 month rental bond
* contributions of 54.3%

Outgoings for 2020:
* Rates $72,000
* Unit Plan Levy Per Annum: $15,000

NET RENT OF $158,000 or 7% YIELD AT ASKING PRICE

Nicholls is exceptionally well located in the beautiful and popular North side suburb of Canberra. Nicholls is home to Gold Creek Village which includes galleries, handicrafts stores, tea shops and English-style pubs, The National Dinosaur Museum and the Canberra Reptile Zoo. Nearby there is the
Canberra Walk-in Aviary and Cockington Green Gardens which displays miniature model buildings from around the globe. Nicholls also houses the Gold Creek Country Club and golf course.

All enquiries are to be directed to Canberra Commercial Property Sales & Leasing. Please contact the agent below for further details.

Michael Newham
M: 0419 263 014
E: michael@cancom.com.au

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