Premium Large Format Retail Investment – Renewed Lease Term
Cushman & Wakefield is pleased to present to the market 168-174 Miller Street, Armidale for Sale via Auction.
The property has the following key characteristics:
- Renewed 5 year lease to 2026 + options to 2031 (Tenant in occupation 15+ years)
- Fantastic Furniture – One of Australia’s largest furniture & bedding retailers with over 80 locations nationally
- Subsidiary of Steinhoff International, owner of Greenlit Brands which operates Fantastic Furniture, Freedom, Snooze, OMF & Plush Think Sofas
- Steinhoff International – Dual listed in Germany & South Africa with Revenues in excess of EUR 12.9B & 130,000+ employees in over 30 countries
- Dominant 1,928 sqm purpose built freehold building within Armidale’s core retail, commercial & industrial precinct
- Proven performer in occupation for more than 15 years
- Strategic position neighbouring national tenants incl. Dan Murphy’s, Woolworths, Kmart, McDonald’s, Aldi, Coles & Armidale Plaza Shopping Centre
- Armidale – Strong NSW regional location, estimated to grow to over 38,000 people by 2041
- Net Income $228,969 + GST
The property is for sale by way of Cushman & Wakefield Investment Auction on Thursday 25 November at 11am AEDT. The Auction will be held at Doltone House Hyde Park, located on Level 3/181 Elizabeth Street, Sydney.
Prospective purchasers & interested parties will have access to remote bidding facilities in both Brisbane & Melbourne as well as via our Live Stream & Online Bidding Platform, strictly via prior arrangement.
Please contact the exclusively appointed Cushman & Wakefield property professionals for more information.
Remember to mention you found this property on CommercialReady.com.au
