Gross Waddell will auction three rare investment properties later this month.
The properties, an Officeworks in Bendigo; a Safeway at Burwood East; and a Safeway Petrol Plus outlet also in Burwood East will go under the hammer at 11am on November 27.
The properties will be auctioned separately at the Hilton on the Park, Wellington Pde, East Melbourne.
The first of the properties, the recently developed Bendigo Officeworks, is described as an AAA retail investment at 297-305 Hargreaves Mall, under instructions from Coles Myer. The Officeworks investment returns around $270,000 per annum with annual rent increases and ample on-site parking. Depreciation benefits are available.
The second of the offerings is a rare bird indeed, a Safeway Supermarket in one of Melbourne’s busiest locations at 42 Burwood Highway, East Burwood.
With a 15-year lease with options, the freestanding 3,900sqm supermarket, with 380 car spaces, returns total income of $790,000 per annum net. It sits on a 1.56 ha site.
The final auction will feature a Safeway Plus petrol outlet at 50 Middleborough Road, East Burwood.
This property returns an annual income of $104,132 and is leased back to Woolworths Ltd until 2013.
It is adjacent to the high-profile Safeway.
