Ritchies IGA, 1-13 Ilex Street, Red Cliffs, Vic 3496

Burgess Rawson together with Cushman Wakefield are delighted to exclusively present to the market the Red Cliffs IGA anchored Shopping Centre for sale via our Investment Portfolio Auction #173 on Wednesday 11 December 2024 at 10:30am AEDT, Crown Casino, Melbourne.
 
+ Ritchies: 14 year lease to 2030 plus 10+10 year options to 2050
+ Ritchies IGA: one of Australia’s largest independent Supermarket chains with $1.4B* sales revenue in 2024 and has a strong backing by Metcash (ASX: MTS) who own a 29.9% stake
+ Proven supermarket since 1984, with 100% occupancy and Ritchies IGA accountable for over 94% of the total income
+ Annual CPI rent reviews plus percentage (%) rent provisions
+ Landlord favourable net lease terms with tenants responsible for all usual outgoings.
+ Large 5,475sqm* site (two titles) with triple street frontage and enormous retail exposure
+ Commercial 1 zoning
+ Important 50 car spaces on title, plus ample curb side parking
+ Combined modern 2,528sqm* complex which includes Ritchies IGA supermarket with usual departments including liquor (internal), IGA drive thru bottle shop, plus two retail shops fronting Ilex Street
+ Significant depreciation tax benefits.
+ Potential 50% stamp duty savings.
+ Red Cliffs: central within Victoria’s thriving Sunraysia district, 16km* south of Mildura CBD, trade catchment 6,156 (1)
+ Sunraysia: region is renowned for its sunshine, intensive horticulture including grapes, citrus and cropping.
+ Net Income: $487,030 pa* + GST

To be sold via Burgess Rawson Investment Portfolio Auction #173
Wednesday 11 December 2024 at 10:30am AEDT
Crown Casino, Melbourne
 
Justin Kramersh 0460 349 605
Raoul Holderhead 0413 860 304
 
Cushman & Wakefield
George Davies 0421 799 489
Oliver Hay 0419 528 540
 
 
1. Areasearch