May 07, 2017

Trophy IGA Supermarket Investment

FOR SALE BY EXPRESSIONS OF INTEREST
closing Wednesday 24th May at 5:00pm

4 Eramosa Road East, Somerville

Specialist commercial property firm, Nichols Crowder, is proud to offer 4 Eramosa Road East, Somerville to the market via an Expression of Interest campaign.  The property is leased to Ritchies IGA, Australia’s largest independent supermarket chain with 74 stores in Victoria, New South Wales and Queensland. Ritchies IGA has leased the building since 1976, with the current 15-year lease expiring in July 2024.

With a freestanding building of around 965sqm on a corner block of approximately 1,926sqm, the Commercial 1 zoned property has dual fronted access and extensive customer car parking.  It is currently leased for $207,164 per annum (as at August 1, 2017), with annual CPI increases, plus turnover rent.

“Ritchies IGA has been in this location for over 40 years, and has another seven years remaining on the current lease”, says James Glen, Senior Sales Executive.  “Therefore, this iconic property in a premium location represents an excellent long-term retail investment opportunity.”

FOR FURTHER DETAILS CONTACT:

James Glen
Senior Sales Executive
Nichols Crowder
358 South Road Moorabbin VIC 3189
9559 3888