5,064sqm Trophy Auto Dealership Freehold Investment with Development Upside
Burgess Rawson, together with Buxton Real Estate, are pleased to offer to the market the 185-195 High Street (Midland Hwy), Bendigo VIC for sale via Expressions of Interest.
Investment highlights include:
+ Irreplaceable 5,064 sqm* corner landholding providing 3 street frontages with a combined frontage of 214 metres*
+ Strategic location within the Bendigo automotive precinct which includes Mazda, BMW, JAX Tyres and Auto, Repco & Bob Jane T Mart
+ Premium Commercial 1 zoning allows for a variety of uses including large format retail, office, childcare, service station/convenience, fast food and medical.
+ Modern 1,536sqm* freestanding dealership incorporating showroom, offices, service centre and car wash.
+ Midland Highway (High Street), a major arterial road servicing over 30,000 vehicles per day.**
+ Underpinned by relatively short term lease to well-established and longstanding tenants, Nissan (Poyser Motor Group) providing valuable holding income.
+ Prime gateway location central amongst national retailers including Woolworths, BWS, Coles Express, EG Ampol, KFC, McDonald’s, Hungry Jacks and more.
+ Poyser Motor Group: family owned, multi-franchise dealership, established in 1979, employs 140+ team members and prides itself on its community interactions over the past 35 years.
+ Two year lease to 2025 plus three further two year options through to 2031
+ Annual CPI reviews
+ Landlord-favourable net lease terms with tenant responsible for all usual outgoings excluding Land Tax.
+ Bendigo: Booming residential growth location with a 11.4% increase in median house in the last 12 months.
+ Important commercial and trade centre extending from Echuca to Castlemaine with a trade catchment of 250,000.*
+ City of Greater Bendigo: Victoria’s largest inland city with population forecast to grow to over 172,239 by 2046 and currently generates $20.6 billion in annual economic output with an estimated 56,303 jobs in the area.
+ Potential 50% stamp duty savings.
+ Estimated Net Rent $321,702 pa* + GST (as at December 2024 assuming 3% CPI Review)
For Sale via Expressions of Interest
Closing 4pm AEDT Thursday, 14 November 2024
*Approx
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