We are proud to present a long term retail investment to Ritchies IGA, which occupies a busy corner in the retail heart of Somerville.
Key investment attributes are as follows:
* Secure 15 year net lease to Ritchies to 2024
* Ritchie's: 26% owned by Metcash Ltd, ASX listed with a market cap of $3.1 billion
* Well maintained and versatile 965 sqm with premium Commercial 1 zoning and dual street frontage of over 97metres
* Direct retail access to 19 on-title parking spaces plus seamless intergration with over 30 car parks on neighbouring properties
* Net income: $208,819 pa.+ GST and Outgoings.
Ritchies has been operating from this site since 1976 (40+ years) and is one of Australia's most well-known and significant independent retailers with 74 stores nationally.
AUCTION Wednesday 28th March 2018 at 11am
Crown Casino, River Room, Melbourne
In conjunction with Burgess Rawson
Matthew Spicer 0448 567 403
Matt Nichols 0418 186 488
NB: All areas and measurements are approximate.