Supa Property

A Ritchies Supa IGA and liquor store at 342 Belgrave-Gembrook Road, Emerald, is being sold by Gorman Commercial, who will take it to auction on Wednesday 6 March at 12pm on-site. The site comprises a substantial freestanding building with a ground-floor area of approximately 1900 square metres and a mezzanine area of some 98 square metres, on land of about 4,776 square metres with 79 on-grade car spaces. The property is accessible to customers via its frontage to Belgrave-Gembrook Road and has two roller-door access points along its western boundary. The asset is occupied by Ritchies IGA supermarket & IGA Liquor, with income of some $328,700 per annum plus GST and outgoings. The store holds a 10-year lease that commenced in October 2013 and provides one further five-year term as well as CPI increases each year, plus a market review at the commencement of any further terms.

Published in the Property Review Weekly Friday 15 February 2019