JLL Retail Investments have been exclusively appointed to sell a strong trading freestanding Woolworth’s investment located in Victoria’s largest inland city, Ballarat.

JLL’s Jarrod Herscu, Stuart Taylor, Tom Noonan, and MingXuan Li have been appointed to run the Expressions of Interest process on behalf of a Private Investor.

The property is strategically located approximately 5.5kms north-west of Ballarat CBD and positioned on the homeward bound side of Howitt Street to the corner of Forrest Street. The property benefits from approximately 20,000 vehicles passing daily and is in close proximity to Ballarat’s most prestigious schools such as Ballarat Grammar.

The opportunity offers investors the rare opportunity to acquire a freestanding supermarket returning $733,392 per annum with a highly desirable net lease to Woolworths Ltd that expires 2030 with options.

The asset occupies a significant 6,394 sqm Commercial 1 Zone site and is supported by 116 highly convenient at-grade car parks.

“Freestanding Supermarkets have traditionally been an extremely tightly held asset-class, primarily held amongst private families for generations. Woolworths Ballarat provides investors with the opportunity to purchase a best-in-class Supermarket within one of the most thriving catchments in Victoria” said Jarrod Herscu.

Ballarat is the third largest urban inland city in Australia and the third largest overall city in Victoria. Ballarat is growing at a rapid rate and according to the City of Ballarat, the expectation is that the population will reach approximately 170,000 by 2041 which is over 40% growth. It’s robust population growth underpins the estimated economic output of $15 billion per annum.

Woolworths Ballarat is also located on the border of Wendouree and Lake Wendouree where the medium house price of $1.18m is 95% above the Victorian regional average. It also holds the record for the highest price for a residential property sale in Ballarat being $8.25m in 2021.

Mr Taylor added “Supermarket leased investments remain one of the most sought-after commercial property asset classes nationally. Particularly, those with ‘older’ style Net Leases where the tenant is responsible for all outgoings including land tax. These assets provide investors with exceptional income security, whilst protecting against the downside risk of rising expenses and taxes.”

“Offered for the first time in over 30 years the store has been a consistent performer for Woolworths and services Ballarat’s most affluent suburbs including Lake Wendouree which has a median house price double that of regional Victoria average” Tom Noonan said.

Woolworths Ballarat is being offered for sale via a Public Expressions of Interest Campaign closing on Wednesday, 5th June 2024 at 4:00pm (AEST).

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