February 01, 2019

ICONIC BRIGHTON SUPERMARKET

AUCTION
Wednesday, March 6 at 12:00noon on site

10 - 12 Cochrane Street, Brighton

Nichols Crowder is proud to offer to the market the premium and longstanding Dockendorff’s IGA supermarket investment at 10 - 12 Cochrane Street, Brighton.  To be auctioned on site on Wednesday, March 6 at 12:00noon, this iconic property is just one door from the popular and fast-growing Bay Street.

Set on land of approximately 1,700sqm, the building area comprises around 800sqm.  With annual rent of more than $241,000 per annum, this equates to an under market yearly rental over $300psm for the building.  However, with several options for upgrading and redeveloping the property, there is an opportunity to greatly increase its value.

Matt Nichols, Managing Director, explains, “The new owner could upgrade the supermarket and offer a longer lease to generate a higher return.  Alternatively, redeveloping the site (STCA) could allow for up to 21 residential apartments, high quality retirement living, or a services apartment hotel.”

“It is a unique offering be a supermarket and bottleshop in Brighton on a great parcel of land.  The future upside for either investment or development is very exciting.”

MATT NICHOLS 0418 186 488

Inspect strictly by appointment.