Sold
Freestanding Investment with Significant Upside | 50% Stamp Duty Savings
145-167 Murray Street, Colac VIC 3250
Last Asking Price - $4,000,000-$7,000,000
RetailSize: n/a
Block size: 7823 m² approx.
Savills Retail Investments is pleased to offer this prime freestanding Kmart located at 145-167 Murray Street, Colac which represents an outstanding opportunity to purchase a large site in Colac CBD, securely leased to Kmart Australia Limited.
Key Investment Highlights:
- BLUE-CHIP SINGLE TENANTED INVESTMENT | Wesfarmers Covenant Wesfarmers has grown into one of Australia's largest listed companies, secured by a renewed lease to Kmart Australia Limited, with a total GLA of 4,459sq m*
- RENEWED LEASE | 3 Years + 3 x 3-year options to May 2036
Kmart Australia Ltd have exercised their first 3-year option commencing 14 May 2024
- FUTURE DEVELOPMENT POTENTIAL | Alternative Use Opportunities (Favourable 'Commercial 1' Zone)
- SIGNIFICANT VALUE-ADD | An existing improvement with street frontage to Dennis Street can be utilised to enhance further potential
- LARGE SITE AREA 7,823sq m | Extensive prime CBD site of 7,823sq m* with approximately 70 metres of Murray Street (Princes Highway) frontage
- COLAC CBD LOCATION Largest commercial centre of the Colac Otway Shire | A major industrial, commercial and service centre of Western Victoria, approximately 150 kilometres south-west of Melbourne.
*Approx.
For Sale by Expressions of Interest, closing at 12pm (AEDT), Wednesday 13 March, 2024
Key Investment Highlights:
- BLUE-CHIP SINGLE TENANTED INVESTMENT | Wesfarmers Covenant Wesfarmers has grown into one of Australia's largest listed companies, secured by a renewed lease to Kmart Australia Limited, with a total GLA of 4,459sq m*
- RENEWED LEASE | 3 Years + 3 x 3-year options to May 2036
Kmart Australia Ltd have exercised their first 3-year option commencing 14 May 2024
- FUTURE DEVELOPMENT POTENTIAL | Alternative Use Opportunities (Favourable 'Commercial 1' Zone)
- SIGNIFICANT VALUE-ADD | An existing improvement with street frontage to Dennis Street can be utilised to enhance further potential
- LARGE SITE AREA 7,823sq m | Extensive prime CBD site of 7,823sq m* with approximately 70 metres of Murray Street (Princes Highway) frontage
- COLAC CBD LOCATION Largest commercial centre of the Colac Otway Shire | A major industrial, commercial and service centre of Western Victoria, approximately 150 kilometres south-west of Melbourne.
*Approx.
For Sale by Expressions of Interest, closing at 12pm (AEDT), Wednesday 13 March, 2024
Inspections
No open inspections scheduled.
Send an enquiry
Contact Rick Silberman to learn more about this property, request an inspection or take an online tour.
Key details
Garage Spaces:
101
Property type:
Retail
Block Size:
7823 m²*
Other Details
Section:
11
Legal description:
6~11\PP5186
Maps and area information
Block information
Block size: 7823m² (approx)
Legal description: 6~11\PP5186
Measurements are estimates only and based on data provided under licence from
© PSMA Australia 2024.
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Property history
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26 Mar 2024
Sold
Savills Melbourne
Listed: 12/02/2024
Block size: 7823m²
Transfer type: Full transfer
Colac suburb information
A little bit about who lives locally, as provided by government census data
SummaryMedian sales
Average Age
46 years
Population
9,243
Listing ID: 182289006. This listing has been viewed 0 times. It was first displayed on 12/02/2024 and last updated on 26/03/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.