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SOLD
Officeworks, 423 Smollett Street, ALBURY, NSW, 2640
Tenanted Investment
DETAILS
Freestanding Officeworks Investment, Brand New Lease
  • Blue-chip essential service investment
  • Officeworks wholly owned by Wesfarmers
  • Brand new 6 year lease plus options

Renewed lease to Officeworks until January 2027 plus options.

Blue-chip tenant, wholly owned subsidiary of $62 billion Wesfarmers Ltd (WES: ASX).

Officeworks is a market leading essential service retailer and major beneficiary from the work-from-home shift, recently reporting a 23.6% increase in half year sales revenue*.

Significant depreciation benefits, with 58.2% of first year's rent potentially tax free.**

Attractive net lease terms with the tenant responsible for rates, insurance and land tax

Strategic CBD gateway corner location surrounded by The Good Guys, Dan Murphy’s, KFC, First Choice Liquor, Mercedes Benz and Albury Station, all within 300 metres.

Long established 4,924 sqm site with over 95 metre frontage to Riverina Highway, occupied by Officeworks since 1999.

The twin cities of Albury/Wodonga have a booming population of 100,435, with 7,673 businesses supporting 51,747 jobs***.

Housing demand in Albury (monthly views per property) is up 290% since March 2020 and the median unit price has increased 25.5% in the last 5 months****.

Estimated Net Rent: $525,000 pa

For Sale by Investment Portfolio Auction

10:30am (AEST) Wednesday 12 May 2021

Crown Casino, Melbourne

*Wesfarmers

**Napier & Blakeley

***.id

****realestate.com.au

Remember to mention you found this property on CommercialReady.com.au

PROPERTY SUMMARY
Auction:
Price on Request
AUCTION DATE:
12 May 2021 10:30AM
FLOOR AREA:
2515 m² (*approx)
Land Size:
4924 m² (*approx)
Type:
Industrial, Retail, Other, Warehouse Showroom, Large Format, Warehouse Showroom, Large Format
Tenanted Investment:
Freestanding Officeworks Investment, Brand New Lease
LOCATION
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