A prominent Bega commercial building is set to go under the hammer at a prestigious Sydney auction next week.
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The space on Carp St, currently hosts tenants The Reject Shop.
According to real estate agent Burgess Rawson the space is “set to attract significant investor attention” at the company’s flagship February portfolio auction in Sydney.
The company’s sales executive Rhys Parker said the location of the building may bring investor interest.
The space provides a net income of $103,713 per annum, he said.
The current lease runs until 2020, with options to 2025, he said.
“The site offers a high quality fit out with significant on-site parking, and is surrounded by high foot traffic brands including KFC, McDonalds and major banks,” the company said.
“The large format retail shop, boasting wide frontage along Carp St in Bega’s CBD, is leased to ASX publicly listed retail giants, The Reject Shop.
Mr Parker said the Bega Shire is set for “impressive growth with the established residential population of this important South Coast hub on the rise”.
Given its appealing location and long term investment potential, we certainly anticipate this property will attract significant interest at auction in February.
- Burgess Rawson NSW sales executive Rhys Parker
“Bega Shire is currently home to a population of more than 34,000 and forecast to grow by over 10 per cent by 2036,” he said.
“With more than two million visitor nights recorded annually for the Shire, this Reject Shop property is a fantastic opportunity for investors to get their foot in the door of the Bega retail property market.
“Given its appealing location and long term investment potential, we certainly anticipate this property will attract significant interest at auction in February,” he said.
Mr Parker said the property will be auctioned on Tuesday, February 20 at Doltone House in Sydney.
It is not known how much the property is expected to sell for.
The company were also in the news this month for organising the auction of an Illawarra postal distribution facility at Unanderra. The space will be auctioned on the same day.