The Woolworths Petrol facility adjacent to Marian Town Centre was auctioned in September, 2014 by Burgess Rawson.
There were a number interested buyers in this entry level investment with a 15 year ground lease to Woolworths Limited. Woolworths owns and is responsible for all improvements on the site paying a gross rent of $60,000 p.a..
The property sold at auction for $1,040,000 reflecting an estimated net yield of 5.48 %.
Tipalea saw the strength of the investment market as an opportunity to recycle capital for future developments in the Marian Town Centre with Mitre 10 starting construction in September.