A brand-new supermarket investment at a prized location on Sydney’s Northern Beaches is shaping as one of the most fiercely sought-after commercial property opportunities of 2022.
Leased under IGA’s exciting new brand Supamart, the flagship store at Freshwater ticks every box for investors and promises exceptional long-term returns.
Only metres from Freshwater Beach and in the heart of Freshwater’s shopping village, the 1173sqm supermarket is secured on a 10-year lease to 2031, with further options to 2056.
Returning $473,021.54 plus GST annually, the property is set to tap into Freshwater’s extraordinary growth, with the suburb’s median house price soaring 46% in 2021 to $3.6 million.
Burgess Rawson’s Darren Beehag and Dean Venturato have brought the property to market in conjunction with Mark Novak of Novak Properties, under instructions from liquidators Jirsch Sutherland (Bradd Morelli and Trent Devine).
Mr Beehag of Burgess Rawson said the asset’s credentials for investment speak for themselves.
“This is one of the highest profile properties in the local strip and has exceptional street presence. Importantly, it is the only supermarket in Freshwater,” he said.
“It holds enormous appeal as an easily managed, single tenant investment with a long and secure lease in one of Sydney’s most tightly-held suburbs.”
Positioned on bustling Albert Street, the supermarket includes 53 car spaces on title and is surrounded by complementary retailers including a Baker’s Delight, pharmacies, banks, a butcher, florist, cafes, and eateries.
Mr Novak said essential retail continues to be one of the industry’s best-performing asset classes.
“We know that essential services such as the Freshwater IGA are extremely difficult to replicate, and particularly in tightly held suburbs such as Freshwater,” he said.
“It provides a great deal of certainty for investors that this asset will continue to deliver for decades to come,” he said.
The supermarket is being sold through expressions of interest, which close at 3pm AEDT on Thursday, March 3.
