Nichols Crowder is proud to present a long term retail investment to Ritchies IGA, which occupies a busy corner in the retail heart of Somerville. It has the ideal demographics for retail spending with young families, and tradies being the dominant occupation. The construction industry remains one of the largest sectors of economic output in Victoria.
Key investment attributes are as follows:
* Prominent freestanding supermarket of 965sqm (approx.)
* 15 year net lease to Ritchies IGA (Exp.July 2024)
* Tenant has been established in store since 1976
* Estimated net income of $208,000 per annum (as at 1st August 2017)
* Rental increases annually by CPI, plus turnover rent
* Turnover has increased 8.78% over the past 12 months
* Dual fronted access and rear on-site car parking for customers
* Substantial corner land holding of 1,926sqm (approx.) with nearly 135 metres of street frontage
* Flexible Commercial 1 zoning
* Well designed building being open plan and perfect for a "carve up" into smaller shops
Ritchies has been operating from this site since 1976 and is one of Australia's most well-known and significant independent retailers with 74 stores nationally.
For further information and inspections contact:
JULIAN VAUTIN - 0420 406 660 or email@example.com
MATT NICHOLS - 0418 186 488 or firstname.lastname@example.org
MICHAEL CROWDER - 0408 358 926 or email@example.com
LINDA ELLIS - 0400 480 397 or firstname.lastname@example.org
NB: All areas and measurements are approximate. All prices are plus GST, unless otherwise stated.