This article is from the Australian Property Journal archive
A WOOLWORTHS supermarket at Dural in north-west of the Sydney was the trophy asset at the Burgess Rawson auction, selling for $19.65 million on a 5.61% yield.
Located at 508 Old Northern Rd Dural, 36km from the CBD, the 4,356 sqm supermarket was sold with a 20-year lease to Woolworths to 2023 plus options to 2053 on a current rental of $1,102,900 p.a. the property includes 200 on-title car parking space.
There were 33 listings, although six properties sold prior to auction and 27 properties went under the hammer, which resulted in 15 sales and 10 properties were passed whilst two are under the contract.
The first property sold on the day was at 5/380 Pacific Highway Coffs Harbour for $2,200,000. The 291 sqm building is leased to Red Rooster, which recently renewed its lease to April 2021 on a rental of $109,873 plus GST with fixed annual 3% increases.
At 1 Nettlefold St Belconnen, ACT – a large 1,725 sqm medical centre with 60 parking spaces sold for $2,200,000. The lease to ASX-listed Primary Health Care was recently renewed for 10 years plus five-year to January 2030 on a rental of $483,346 p.a. plus GST.
At 10 Amsterdam Circuit Wyong, a 2,298 sqm industrial site sold prior to auction for $1,250,000. Improvements include a 1,130 building with 380 sqm of office and 750 of warehouse space. It was sold with a 10-year lease to 2024 returning $103,000 plus GST.
At 140 Pacific Highway Wyong, a petrol station fetched $1,250,000. It was sold with a 10-year lease to Westside Petroleum, generating a net income of $87,964 p.a.
At 14 Healey St Huntingwood, an office and industrial property sold for $7,475,000. The 2,956 sqm office and warehouse with 60 on-site car space occupies a 7,658 sqm site and is currently leased to Alfa Laval, Swedish multinational company. The net income is $435,000 p.a. plus GST.
Another medical centre at Unit 6/151-155 Hawkesbury Rd Westmead sold for $1,815,000. The 133 suite is leased to a pathology clinic to December 2019 on a rental of $107,780 p.a. plus GST.
A third medical centre at 5 & 6/812 Pittwater Rd Dee Why sold for $2,900,000. The 417 sqm clinic is leased to 2020 and currently returning $195,132 p.a. plus GST with annual increases of 4%.
At 216 Queen St, St Marys, a freehold retail and commercial building fetched $2,710,000. The property is leased to an employment agency on a rental of $182,695 p.a. plus GST.
A Caltex petrol station at 2893 Nelson Bay Rd Salt Ash sold for $4,700,000. The 2,164 sqm property was built in 2012/13 and offers depreciation allowances. It is leased to Caltex to 2024 with options to 2039, returning a net income of $275,858 p.a. plus GST.
Another petrol station on the corner of the Hume Highway & Sheanhan Drive Gundagai sold for $7,710,000. The 14.94ha property is a major truck stop along the Sydney to Melbourne highway. It is leased to Shell-Coles Express along with KFC, Subway and 24-hour diner and cafe on a combined rental of $646,095 p.a. plus GST.
A National Australia Bank branch at 311-313 Belmore Rd Riverwood sold for $2,200,000. The two-level 540 sqm building is on a one-year lease to the NAB on a current rental of $84,928 p.a. plus GST.
The Sydney CBD, a whole office floor at Level 9, 22 Market St fetched $2,950,000. The 475 sqm property is leased to Japanese travel agency to 2023 on a rental of $207,824 p.a. plus GST with 4.5% increases.
A Mexican restaurant at 419 Pacific Highway Crows Nest sold for $3,300,000. The 300 sqm property was sold with a new 10-year lease to April 2015 on a net income of $192,000 p.a. plus GST.
A retail investment at 1P4/201-205 Pacific Highway St Leonards for $1,650,000. It is securely leased to 2022 on a net income of $98,763 p.a. plus GST with fixed 4% increases.
A retail complex comprising six shops at 161-163 Prince Edward Avenue Culburra Beach sold for $1,850,000. The 2,348 sqm property is anchored by a Home, Timber & Hardware store, returning a combined net income of $129,036 p.a.
Finally a retail investment at 1/13 Lyons Place Lyons ACT, which was passed in at $1,155,000, ultimately sold after auction for $1.2 million. The 500 sqm store is leased to a grocer to September 2020, returning $82,026 p.a. plus GST.
Australian Property Journal
