JLL Retail Investments is pleased to offer for sale Coles Morwell shopping centre.
The Coles anchored, 5,365 sqm neighbourhood shopping centre provides investors with the ultimate income security with 94% of income underpinned by the ASX listed Coles Group.
Located in the heart of Morwell, the property is positioned near the corner of George Street and Tarwin Street and is easily accessed via the Princes Highway. Morwell is approximately 149kms south east of the Melbourne CBD within the Latrobe Valley.
Coles Morwell is for sale by Expressions of Interest closing 4.00 pm (AEST) Wednesday 26th May 2021.
- Anchored by a strong performing, 4,756 sqm Coles supermarket
- 94% of income underpinned by Coles Group
- Net lease structure in Coles lease
- Coles paying percentage rent
- Major refurbishment completed in 2018
- 11,110 sqm, Commercial 1 zoned site located within the heart of the Morwell CBD
- Low average gross specialty rent of $259/sqm, with fixed annual rent reviews
- Fully Leased Net Operating Income of $1,427,038 p.a.