760 Benetook Avenue, Mildura, Vic 3500

Burgess Rawson is pleased to offer to market 760 Benetook Avenue, Mildura VIC, for sale via Expressions of Interest.   

The property has the following key investment highlights:

+ As new retail centre with anchored by Subway and Pizza Hut plus Augustus Gelatery and Major Automatic Car Wash.
+ Long and Strong WALE of 6.69 years* (By Rent).
+ Renewed Seven (7) year lease to Subway with options through to 2045.
+ Subway: International fast-food leader with approximately 37,000 stores worldwide in more than 100 countries. (1)
+ Recently renewed five (5) year lease to Augustus Gelatery plus options through to 2039.
+ Augustus Gelatery: Fast growing artisan Italian Gelato chain operating 34 locations across Victoria. (2)
+ A brand new Ten (10) year agreed heads of agreement in place with Pizza Hut with options through to 2049.
+ Pizza Hut: Global pizza chain operator more than 16,000 restaurants and 350,000 team members in over 100 countries. (3)
+ A mixture of annual CPI, Fixed 3%, & 3.5% annual rent reviews, ensuring income growth.
+ Investor preferred net lease terms, with tenants pays all usual outgoings.
+ As new, 1,680sqm* purpose-built retail QSR centre with car wash, and 41 on-title car parking spaces.
+ Future options to further separate and sell down (STCA).
+ Built circa 2018, offering modern infrastructure and significant tax depreciation benefits.
+ Strategic 4,001sqm* main road landholding positioned within Mildura’s dominant retail precinct, adjoining McDonald’s and surrounded by KFC , Bunnings, Fantastic Furniture, Anaconda, Chemist Warehouse & Rebel.
+ Mildura: bustling commercial centre of the Sunraysia and Murray River region home to over 60,000 people, with an annual economic output in excess of $8.16 billion. (4)
+ Potential 50% stamp duty savings.
+ Fully Leased Net Income: $271,461 pa* + GST

For Sale by Expressions of Interest
Closing 3pm (AEST) Thursday 26 September 2024


1 Subway
2 Augustus Gelatery
3 Pizza Hut
4 REMPLAN