A top-tier large format retail investment in a prime Hunter Region location has changed hands for $7.2  million, facilitated by Burgess Rawson's Kieran Bourke, Darren Beehag, and John Ingui.

The property, situated at 2B Chelmsford Drive, East Maitland, transacted on a yield of 6.9 per cent. 

"Positioned opposite the bustling Stockland Green Hills shopping centre, the asset provides  exceptional exposure, easy access and a strong tenant profile,” he said. 

The Good Guys is a prominent national retailer under the ownership of JB Hi-Fi, and one of its 106  locations nationwide.

With JB Hi-Fi's expansive presence boasting over 300 stores across Australia  and New Zealand and a substantial market capitalisation of $6.28 billion. 

The investment is further strengthened by attractive annual CPI rent reviews, ensuring a steady income  stream for investors. The net annual income is $499,882 with the tenant paying all outgoings. 

The Good Guys has recently renewed their lease for five years with an additional option until  September 2032.  

Set on a substantial site of 2,426 square metres, the property is nestled among an established bulky  goods centre alongside other reputable national retailers like Supercheap Auto and Petbarn.

With over 100,000 residents residing within a 10-kilometre radius and situated in the fast-growing  Hunter Region, which has a population of 682,000 residents, the property benefits from a robust  customer base. 

Positioned strategically along the New England Highway, the property provides significant visibility, with  approximately 40,000 passing vehicles daily, enhancing its appeal for sustained foot traffic and  commercial viability. 
 

Burgess Rawson market insights and updates:

Key Priorities of Asian Investors in Australian Commercial Property - Burgess Rawson  | Commo.

Automotive assets: a high-octane investment choice for sustained growth and resilience - Burgess Rawson | Commo.

Scaling Up: The Rise of Large Format Retail – by Yosh Mendis Burgess Rawson – National Partner | Commo.

Why Investing in Australia's convenience retail sector is proving lucrative - Burgess Rawson | Commo.

Unveiling the Dynamics of the Fast Food Revolution - Burgess Rawson  | Commo.

Early education listings up by 22% as Burgess Rawson reaches $2.2 billion milestone | Commo.

Burgess Rawson News: 

Burgess Rawson first 2024 Auction Event records $66.79 m  | Commo.

Guardian Early Education Centre Banksia Park sold for $6.4 Million - Burgess Rawson & RWC  | Commo.

Burgess Rawson launches its second major commercial property portfolio event for 2024 | Commo.

Burgess Rawson promotes Yosh Mendis to National Partner | Commo.