Anchored by Harris Farm Markets’ Flagship Supermarket the asset is set to attract significant interest.The Albury Convenience Centre is being offered for sale exclusively by JLL Retail Investments Stuart Taylor Nick Willis and Tom Noonan on behalf of the owner, a syndicate managed by FINDEX – Financial Advisory and Accounting Services firm.

The dual tenanted property is wholly leased by national retailers Harris Markets and Amart Furniture. The asset is situated on a high profile 14,250sqm corner site on Young Street (Riverina Highway) in the heart of the Albury-Wodonga region.

The newly opened retail centre is anchored by the 4,453sqm flagship supermarket by Harris Farm Markets, the latest and greatest offering in their 29 supermarket network.

Stuart Taylor, Senior Director of Retail Investments at JLL said “The asset provides investors with a secure income stream, benefiting from a Weighted Average Lease Expiry (WALE) of approximately 10 years.”

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The centre comprises a Gross Lettable Area of 9,690sqm with 224 car parks on title, with a current Net Income of approximately $1,847,291 p.a.

“This asset will be well sought-after as it offers incoming purchasers guaranteed income growth through fixed annual rental review, as well as significant depreciation benefits given the major redevelopment completed in 2020.” Mr Taylor added.

 Nick Willis, Director of Retail Investments at JLL added “An opportunity providing these types of fundamentals is typically only found with the likes of Bunnings or freestanding supermarket investment.”

 The Harris Farm brand is one that is synonyms with affluent inner Sydney suburbs. The fact that this location is where the brand has decided to open their largest and latest flagship store is a testament to the strength of the Albury-Wodonga catchment” Willis added.

 Tom Noonan, Director of Retail Investments at JLL said “The Albury asset comprises a tenant mix which has been the key beneficiaries of changes in spending habits with Household Goods and Food sales in Australia growing by 17.10% and 11.60% year on year to December 2020.”

The Albury Convenience Centre is being sold by an on-market Expressions of Interest campaign closing Thursday, 22nd of April.

To request a copy of the Information Memorandum please email the JLL selling agents via the contact forms below. 

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