Ritchies IGA, 3-5 Wellington Street, Paynesville, Vic 3880

Burgess Rawson is delighted to exclusively present to the market the Paynesville Village Shopping Centre for sale via our Investment Portfolio Auction #172 on Wednesday 30 October 2024 at 10:30am AEDT, Crown Casino, Melbourne.  

This opportunity has the following key investment highlights:

+ Long 7.35 Year WALE with Ritchies IGA paying over 90% of the total rent and supported by Australia Post.
+ Strong trading full-line Ritchies IGA supermarket plus Liquor with significant Year on Year sales growth, consistently paying percentage rent plus annual CPI reviews.
+ 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.
+ Substantial 4,461*sqm C1Z site, supported by a combined 98 on-title and council spaces, including a signed section 173 agreement with council.
+ Landlord favourable net lease terms with both tenants responsible for all usual outgoings.
+ Expansive 2,023sqm* full-line supermarket plus Liquor and the only supermarket and Liquor shop in the region – Nearest Coles or Woolworths is in Bairnsdale, 16km* away and a 35-minute round trip.
+ Major depreciation tax benefits.
+ Potential 50% stamp duty savings.
+ Paynesville: thriving tourist region and the ‘Boating Capital’ of Victoria with a current population of 6,946 and forecasted to grow 32% by 2046.**
+ Net Income: $535,443 pa* + GST

To be sold via Burgess Rawson Investment Portfolio Auction #172
Wednesday 30 October 2024 at 10:30am AEDT,
Crown Casino, Melbourne

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