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SOLD

223 Kelly Street, Scone, NSW, 2337

Properties / Sold / New South Wales / Scone

Tenanted Investment

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1. Property Summary

Selling Method

EOI

Selling Details

Closing 2.00pm (AEST) on Wednesday, 5 June 2024.

Land Area

8,879 m² (*approx)

Property Type

Retail

Sub-type

Shopping Centre

Fully Leased

Anchored by Coles Supermarket

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2. Property Highlights

NSW Neighbourhood Centre Anchored By Coles Supermarket Paying Percentage Rent

Coles supermarket paying turnover rent
86% national/chain tenants (by income)
Ave. spec rents 35.2% below Benchmark¹

Colliers are excited to present an opportunity to acquire a dominant neighbourhood shopping centre, located in the Upper Hunter Shire Region, approximately 25*km north of Muswellbrook, 130*km northwest of Newcastle CBD and 205*km north of Sydney CBD.

The strategic 4,111m² single level Neighbourhood Shopping Centre is anchored by a strong performing Coles supermarket and supported by an additional eleven (11) predominantly essential service specialty tenancies.

The Centre presents itself as a high-profile regional offering, featuring secure income growth and minimal management.

Coles Supermarket accounts for 64% of GLA and 67% of Income
86% of Income secured by national or chain tenants
Minimum specialty rental reviews of 3-4% fixed or CPI
Coles is the largest and most dominant supermarket in the catchment
Coles Supermarket features low occupancy cost, below benchmark
Average specialty rent 35.2% below Urbis Benchmark¹

Expressions of Interest closing 2.00pm (AEST) on Wednesday, 5 June 2024.

¹ Urbis Benchmark, 2023

*approx.

Remember to mention you found this property on CommercialReady

Tenanted Investment

1. Property Summary

Property Type

Retail

Sub-type

Shopping Centre

Tenant

Anchored by Coles Supermarket

Land Area

8,879 m² (*approx)

Selling Method

EOI

EOI Closing Date

5 Jun 2024 02:00PM

Add to calendar

Selling Details

Closing 2.00pm (AEST) on Wednesday, 5 June 2024.

2. Property Highlights

NSW Neighbourhood Centre Anchored By Coles Supermarket Paying Percentage Rent

Coles supermarket paying turnover rent
86% national/chain tenants (by income)
Ave. spec rents 35.2% below Benchmark¹

The Centre presents itself as a high-profile regional offering, featuring secure income growth and minimal management.

Coles Supermarket accounts for 64% of GLA and 67% of Income
86% of Income secured by national or chain tenants
Minimum specialty rental reviews of 3-4% fixed or CPI
Coles is the largest and most dominant supermarket in the catchment
Coles Supermarket features low occupancy cost, below benchmark
Average specialty rent 35.2% below Urbis Benchmark¹

Expressions of Interest closing 2.00pm (AEST) on Wednesday, 5 June 2024.

¹ Urbis Benchmark, 2023

*approx.

Remember to mention you found this property on CommercialReady

223 Kelly Street, Scone, NSW, 2337 Scone

Colliers - Sydney CBD

Level 30, Grosvenor Place, 225 George Street Sydney NSW 2000

View Agency Profile

Ben Wilkinson

+61 *** *** *** show +61 449 928 840

James Wilson

+61 *** *** *** show +61 402 079 304

Industrial

Retail

Child/Healthcare

Hotel/Leisure

Offices

Farming

Other

223 Kelly Street, Scone, NSW, 2337