Burgess Rawson together with Cushman Wakefield are delighted to exclusively present to the market the Red Cliffs IGA anchored Shopping Centre for sale via our Investment Portfolio Auction #173 on Wednesday 11 December 2024 at 10:30am AEDT, Crown Casino, Melbourne.

+ Ritchies: 14 year lease to 2030 plus 10+10 year options to 2050
+ Ritchies IGA: one of Australia’s largest independent Supermarket chains with $1.4B* sales revenue in 2024 and has a strong backing by Metcash (ASX: MTS) who own a 29.9% stake
+ Proven supermarket since 1984, with 100% occupancy and Ritchies IGA accountable for over 94% of the total income
+ Annual CPI rent reviews plus percentage (%) rent provisions
+ Landlord favourable net lease terms with tenants responsible for all usual outgoings.
+ Large 5,475sqm* site (two titles) with triple street frontage and enormous retail exposure
+ Commercial 1 zoning
+ Important 50 car spaces on title, plus ample curb side parking
+ Combined modern 2,528sqm* complex which includes Ritchies IGA supermarket with usual departments including liquor (internal), IGA drive thru bottle shop, plus two retail shops fronting Ilex Street
+ Significant depreciation tax benefits.
+ Potential 50% stamp duty savings.
+ Red Cliffs: central within Victoria’s thriving Sunraysia district, 16km* south of Mildura CBD, trade catchment 6,156 (1)
+ Sunraysia: region is renowned for its sunshine, intensive horticulture including grapes, citrus and cropping.
+ Net Income: $487,030 pa* + GST

To be sold via Burgess Rawson Investment Portfolio Auction #173
Wednesday 11 December 2024 at 10:30am AEDT
Crown Casino, Melbourne

Justin Kramersh 0460 349 605
Raoul Holderhead 0413 860 304

Cushman & Wakefield
George Davies 0421 799 489
Oliver Hay 0419 528 540

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