March 28, 2018

RITCHIES IGA SUPERMAKET INVESTMENT

SOLD $3,019,000
2-4 Eramosa Road, Somerville

A property leased to Ritchies SUPA IGA at 2-4 Eramosa Road has sold at auction for $3.019 million.  On a corner block of approximately 1,926sqm, the 965sqm supermarket is currently leased for $208,819 per annum, representing a yield of 6.9%.  Leased to the supermarket chain since 1976, the current 15-year lease expires in 2024.  T

he Commercial 1 zoned property with dual-fronted access and extensive customer car parking was marketed by Matt Nichols and Matt Spicer of Nichols Crowder, in conjunction with Burgess Rawson.