Modern Fuel & Convenience Investment – Coles Group Ltd – 10 + 10 Year Lease

137-139 Princes Drive , Morwell VIC

Property Highlights

Modern Coles Express service station
Prime gateway corner location
Built new in 2018

Description

Secure 10 year lease to 2028 plus 10 year option to 2038
Guaranteed rental growth, the lesser of 3.5% or 5 x CPI
Tenant pays outgoings (including land tax on a single holding basis), as per the lease
Coles Express is one of Australia’s leading fuel and convenience retailers with 723 stores across Australia
ASX top 20 company Coles Group market cap $22b
3,036 sqm gateway corner with 111 m total frontage
High exposure to 13,000+ vehicles passing daily
Upside: potential to further develop subject to negotiation with tenant
Built new in 2018, substantial depreciation benefits
Net Income: $290,000 pa + GST (July 2021)

For Sale by Auction
Wednesday 23 June at 10.30am
Crown Casino, Melbourne VIC

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Service Station
Land Size
3,036 SQM
Building Area
143 SQM

Price

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