This article is from the Australian Property Journal archive
A SYDNEY based private investor has bought a retail arcade at 177 Howick Street, Bathurst for $3.6 million.
The single storey retail arcade comprises 14 shops with an estimated retail area of 1385 sqm. The shop frontage on Howick Street includes four shops with the remaining within the arcade.
Joint selling agents Robert Lowe from Savills and Matthew Clifton from Raine & Horne Bathurst said the property offered an excellent opportunity for an investor as it occupies a highly-sought after location leased to secure tenants.
The current rent payable on the property is approximately $390,930 pa net on a fully leased basis.
The arcade provides direct access to Bathurst Chase Shopping Centre and is strategically positioned opposite the Post Office and set amongst a variety of established local, national and institutional retail business outlets and tenants.
The site was sold via an Expressions of Interest campaign through the joint agents Savills and Raine and Horne Bathurst.
Australian Property Journal
