Marian Woolworths Petrol Sold for 5.5% Yield at Auction

16th September 2014

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.

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