The Dan Murphy’s site at West Gosford has been listed for sale amid ongoing buyer demand for long-leased retail investment opportunities, but residents can rest easy – the liquor outlet isn’t going anywhere.
A spokesperson said Dan Murphy’s has a long-term lease in place and will not be required to relocate.
Commercial real estate services company CBRE has appointed James Douglas and Harry George to steer the sale of the high-profile site at 67 Central Coast Hwy.
A key buyer drawcard will be the property’s 20-year lease to 2031, with options until 2051, backed by the ASX-listed Endeavour Group.
“It’s a rare opportunity to acquire a highly secure and defensive investment with strong income growth potential, with Dan Murphy’s in excess of its sales threshold and paying percentage rent,” Douglas said.
The modern 1,426sqm store is situated on a prominent 3,748sqm site, which offers parking for 57 cars and excellent exposure to the Central Coast Hwy, a major multi-lane arterial thoroughfare connecting the Central Coast with Sydney, he said.
Douglas said that in addition to the tenure and income growth potential, investors would be attracted to the freehold nature and depreciation benefits of the investment.
“The asset’s prime and highly-accessible location within a densely populated growth corridor was another strong drawcard for the asset,” George said.
Media release, Sep 15