Renovated supermarket going for auction
A TOOWOOMBA supermarket close to the city’s centre will head to auction within weeks following a massive upgrade.
The site featuring an IGA and Elite Cryotherapy on Hill St in Newtown will go under the hammer on May 3 through Ray White Commercial.
Agent Mark Wynhoven said the property had just undergone a $140,000 renovation to make sure it was ready for a new investor.
“It’s ready to be sold. It’s set up and in a really good place,” he said.
“It was back at the start of their lease (that they started the renovations) - worth about $120,000 to $140,000.
“We had some really good inquiries and there’s been a lot happening so far.
“The front or northern-facing tenancies offer great valueadd and additional income including a new four-year lease to Elite Chryotherapy.”
The supermarket is close to three different schools and also had 45 car parks on-site.
Mr Wynhoven said while the listing was still fresh, he already had two dozen inquiries from interested parties.
“I’ve genuinely got a page and a half of inquiries, about 25 initial inquiries while we were just finishing off renovations,” he said.
“Now it’s all done and ready to go, we’re hoping it will be ready for someone to jump in.
“We’re after an investor looking at a better return and more secure leases.”
The auction will be held at 10.30am. For more details, call Mark Wynhoven on 0434 190 856.