Gross Waddell ICR and Mindacom Real Estate are pleased to present for sale a phenomenal land rich investment at 76-80 Learmonth Road, Ballarat (Wendouree). Securely leased to a proven homemaker retailer, the property is perfectly positioned within a bustling retail precinct alongside the sub-regional Wendouree Shopping Centre and an array of national retailers.
• Leased to a nationally recognised furniture giant ‘Amart Furniture’ which has over 65+ stores nationally and growing
• Substantial 15-year & 6 month lease commencing 9th of March 2012 with no further options
• Significant income profile offering $669,910.63 per annum* (gross) plus a turnover provision
• Enormous 16,650 sqm* landholding with frontage to the ever-popular Learmonth Road and Gillies Street
• Vast 5,645 sqm* retail/showroom with 173* on-site customer carparks
• Proven retail position adjoining HomeCo supercentre, Wendouree Shopping Centre & Eureka Homemaker Centre.
• Single tenant minimum management investment
• Future value-add opportunity with potential rental reversion, ability to split into smaller showrooms or develop the land for greater site coverage (STCA)
• Ballarat is a major regional city with a forecast population growth of 25.69% by 2036 (source forecast.id)
The property is for sale via Expressions of Interest closing at 3 pm on Wednesday 28th of June 2023. For further information or to inspect the property, please contact Gross Waddell ICR or Mindacom directly.