 Asset Class: | Retail |
 Price: | $ 2520000 |
 Net Yield: | 6.34 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
This exceptional commercial property presents a rare opportunity to acquire a premium retail asset in Kerang, home to Australia’s largest solar and battery farm, which opened in June 2019. Strategically positioned 279 kilometres north-west of Melbourne on the Murray Valley Highway, it sits just a few kilometres north of its intersection with the Loddon Valley Highway.<br> <br>The property was previously an indoor bowling alley. Its solid, insulated double-brick exterior is heritage-listed, while the rest of the building has been extensively refurbished, featuring a new roof, plumbing, electrical systems, air-conditioning, doors, and flooring. The tenant has invested approximately $700,000 in the fit-out.<br> <br>This opportunity includes a single-level, freehold investment with a total net lettable area of 669 square metres, plus an additional 198 square metres of laneway, bringing the total to 867 square metres. It is leased to ASX-listed The Reject Shop (TRS) on a brand-new 6-year lease, commencing on March 14th , with a 5-year option to extend. TRS has reported strong trading since opening earlier this month.<br> <br>The property benefits from ample street parking on Fitzroy Street, as well as additional customer parking in surrounding retail areas.<br> <br>This investment generates a net income of $159,891.60 per annum, with annual rental increases of 3%, ensuring continuous growth.
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Kerang is a town located on the Loddon River in north-central Victoria, near the New South Wales border. It serves as the commercial hub of an irrigation district focused on livestock, horticulture, lucerne, and grain production. Situated 279 kilometers northwest of Melbourne on the Murray Valley Highway, Kerang had a population of 3,960 at the 2021 census. The town is home to Australia's largest solar and battery farm, which opened in June 2019.<br><br>The Loddon River runs through Kerang, offering opportunities for fishing, while the nearby Kerang Wetlands are home to over 50 lakes, swamps, and lagoons, attracting thousands of water birds. Popular for water sports, boating, and fishing, larger lakes like Kangaroo Lake and Lake Charm draw visitors. Gorton Drive, which runs along Kangaroo Lake’s western shore, is lined with jacaranda trees and citrus orchards, named after former Australian Prime Minister Sir John Gorton. The Brown Brothers winery, established near Kangaroo Lake in the 1960s, produces exotic wines from warm climate grape plantings.
Additional Location Information File<p style=""><span style="color:rgb(214, 201, 173);"><b> </b></span></p><p style="">The Reject Shop:<span style="color:rgb(0, 0, 0);"> </span><a style="color:rgb(5, 99, 193);display:inline;" target="_blank" href="https://www.rejectshop.com.au/stores/3457/kerang"><u>https://www.rejectshop.com.au/stores/3457/kerang</u></a><span style="color:rgb(0, 0, 0);"></span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p>The Reject Shop is an Australian discount variety retail chain founded in 1981, offering a wide range of affordable products including household goods, groceries, health and beauty items, toys, and homewares. With over 300 stores across Australia, it focuses on providing budget-friendly options for families and individuals. The store operates on a no-frills model, sourcing products at low prices to pass the savings on to customers.
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13-15 Fitzroy Street Kerang – 669 sqm - $269/sqm 1239 Nepean Hwy, Cheltenham VIC 3192 - $1,000/sqm 415 McDonalds Rd, Mill Park VIC 3082 - $1,000/sqm 1 N Lakes Dr, North Lakes QLD 4509 -$820/sqm 600 Kingsway NSW - $900/sqm 145 Condamine St, Brookvale NSW 2100 - $880/sqm Shop 186 Luxford Rd, Mount Druitt NSW 2770 -$1,000/sqm
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Prime Retail Investment in Kerang</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Refurbishments include a new roof, plumbing, electrical, air-conditioning, doors, and flooring.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Tenant Invested ~$700,000 in fit-out</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Ample Street Parking</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Leased to ASX-listed The Reject Shop </span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Brand-new 6-year lease from March 14, with a 5-year extension option.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Net Lettable Area - 669 sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Net Income -$159,891.60per annum.</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Annual Rental Increases - 3%</span></p></li></ul>
