This article is from the Australian Property Journal archive
A REGIONAL Victoria Bunnings Warehouse has sold to Melbourne-based investor Leo Lipp for $18,050,000, in the process achieving what is believed to be the tightest yield yet for a Bunnings.
74 Nyah Road sold on a yield of 3.99%, beating out the previous record of 4% held by the Bunnings in Hervey Bay, which sold late in 2021 for $58.6 million, and a new Bunnings in Nowra that Charter Hall picked up earlier this year for $65.3 million.
The Swan Hill warehouse has a building area of 6,666 sqm and is on 16,658 sqm of land that includes an outdoor nursery and 140 car parks. Bunnings has seven years left to run on its lease plus options.
The vendor, retired Adelaide doctor Prabhash Goel, bought the property for $10.95 million in 2015.
The result lands as a Bunnings in Greater Bendigo returning just over $1 million each year hits the market. The freestanding 11,606sqm warehouse is on a 27,010 sqm parcel.
