Overview

Ray White Retail is pleased to present the Mitre 10 Bundaberg property, available for sale at a yield of 6.65% with a price of $3,600,000. This property represents a significant investment opportunity in a large format retail space.

Property Overview:

• Size: 2,370 sqm of retail space.
• Land area: 4,510 sqm, strategically located on a prominent corner with 132 meters of street frontage.
• Leased to Mitre 10, a well-established hardware store, under a triple net lease, meaning all outgoings including land tax are recoverable.
• Net income of $239,423 plus GST per annum.

Location Highlights:

• Situated within a major retail precinct in Bundaberg, less than 500 meters from significant shopping centers, ensuring high traffic flow.
• Located 360 km north of Brisbane, in a region with a population exceeding 106,000 and a Gross Regional Product (GRP) of over $6 billion.

Investment Benefits:

• Long-term lease of 34 years, providing a secure investment.
• Inflation-resistant with annual CPI increases.
• Affordable base rent of $101 per sqm, with potential for significant rental growth.
• This is the only Mitre 10 in the Bundaberg-Bargara area, enhancing its market position.
• Mitre 10 is owned by ASX-listed Metcash, which also owns IGA, Total Tools, and Home Hardware brands.

Overall, this property offers a unique opportunity for investors looking for a stable and profitable retail investment in a growing area.

Location