Super sale op

AN ESTABLISHED free-standing supermarket investment opportunity on the western outskirts of the Toowoomba CBD is being offered for sale through Ray White Commercial Toowoomba.

The property in a busy Toowoomba precinct at 102 Hill Street, Newtown, is being marketed by Ray White Commercial Toowoomba’s Mark Wynhoven.

Mr Wynhoven said the approximately 755 sqm supermarket is leased long term to Bansal Group, which operates 16 IGA stores throughout Queensland and Western Australia.

"Bansal Group has recently committed to a new 10-year lease and the IGA supermarket attracts between 4,000 and 4,500 customers per week," he said.

"The property also features other tenancies with Elite Chryotherapy also committing to a new four-year lease. Two additional tenancies have been constructed to provide more income and security.

"The rental income currently from the property is currently $198,325 per annum with potential for further income projected at approximately $246,325."

Mr Wynhoven said the 4,025 sqm supermarket complex is situated on a main road between two high schools and a primary school with another high school in the catchment area.

"The site offers excellent convenience for customers with more than 45 car parks available," he said.

The property is being offered for sale for $2,950,000.

For more information, contact Mark Wynhoven on 0434 190 856.