RUSHWORTH IGA (pictured above) is on the market due to “strong investor demand for income producing assets’’.
The supermarket is located at 18 High St, nearby national retailers including Bendigo Bank and Australia Post.
CBRE’s Joseph Du Rieu, who is selling the property with colleagues Kevin Tong and Tim Last, said the sale came amid strengthening demand for income producing assets in metropolitan and regional Victoria.
“Given investors usually require more than $10 million to secure a Coles or Woolworths, independent supermarkets can provide an entry level alternative and are being perceived to have similar security now,” Mr Du Rieu said.
“Investments of this type can generally provide potential returns of 5.5 per cent to 7.5 per cent, which is highly attractive for both mum and dad investors, as well as other private buyers.”
Mr Du Rieu said the current upgrades to the Goulburn Valley Aged Care facility highlighted the State Government’s progressive stance on regional towns.
“We believe the buyer market will view the investment from the State Government into the area as a major positive – it is not often you have the opportunity to buy real estate adjacent such a significant project,’’ he said.
IGA Rushworth is being offered for sale via public expression of interest closing Thursday, April 26, 2018.