 Asset Class: | Industrial |
 Price: | $ 1395000 |
 Net Yield: | 6.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
A great opportunity to purchase a well-located wholesale food distribution warehouse with a gross floor area of 852<span style="color:rgb(51, 51, 51);">m²</span>. The property offers a mix of dry, chilled and frozen storage along with offices, amenities and a meals room. The property has a large land area of 3,466<span style="color:rgb(51, 51, 51);">m²</span> with potential to further develop subject to council approval, lessee agreement and investor risk appetite.<br><br><span style="color:rgb(51, 51, 51);">The property has a passing net income of ~$84,000 net of outgoings, land tax and property management fees. Rent to increase annually in line with Sydney’s CPI.</span><br><br>The property is leased to PFD Food Services (PFD), a long-term tenant of 11 years who has occupied the property since 2014. PFD is a blue-chip tenant, 100% owned by Woolworths who recently signed a new 5-year net lease in November 2024 to October 2029 with a 1 x 5-year tenant option to October 2034. This lease offers investors the opportunity to purchase a ‘set and forget’ investment with secure rental income for the next 9.5 years.<br><br>PFD is Australia’s largest family-owned food service distributor founded in 1943. PFD’s revenue in financial year 2024 was reported at just under $3 billion employing over 2,800 staff across 70 sites nationally.<br><br>With an A-grade established tenant on a long-term lease, this industrial property offers an excellent investment opportunity for the astute buyer.
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As Australia’s first inland settlement, Bathurst is a well-established community and a regional tourist destination. Bathurst is strategically located just 200km from Sydney. The city offers excellent connectivity to major markets through its aerodrome and well-developed road networks while maintaining the benefits of a regional lifestyle.<br><br>The city's economy is robust, with a Gross Regional Product of approximately $3 billion. Bathurst boasts a diverse economic base with key industries including healthcare, education, manufacturing and agriculture. The healthcare and social assistance sector is the largest employer, reflecting the city's commitment to community well-being. Additionally, Bathurst is home to over 60 educational institutions attracting students and professionals from across NSW. Notable institutions include Charles Sturt University, Western Institute of TAFE and the Western Sydney University’s clinical education facility at Bathurst Base Hospital.<br><br>Bathurst is also a regional tourism destination, with over 200,000 people visiting the iconic motor racing events at Mount Panorama each year. Bathurst is in the Central Tablelands region of NSW which has a population of ~156,000 residents and is forecast to grow by 1.2% annually driving demand for goods, services and infrastructure.<br><br>New and continuing developments in Bathurst and the broader region include:<br>• Bathurst Hospital: $200 million redevelopment<br>• Bathurst Regional Council budgeted capital expenditure program to FY28: $40 million<br>• Orange Base Hospital Cyclical Maintenance: $119 million<br>• Cowra Hospital Redevelopment: $110 million<br>• Blayney Multipurpose Health Facility: $36 million<br>• Wallerawang Great Western Battery Energy Storage System: $400 million<br>• Central West Orana Renewable Energy Zone Transmission project (Wellington, Dubbo, Dunedoo and Merriwa): $5.3 billion<br>• Wellington Boda-Kaiser project (feasibility): $1.1 billion<br><br>Don't miss the chance to capitalise on this fantastic opportunity to purchase a tenanted investment in growing regional NSW.<br><br>Further detail:<br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://economy.id.com.au/bathurst"><u>https://economy.id.com.au/bathurst</u></a><span></span>
Additional Location Information FilePFD Food Services (PFD) is Australia's largest family-owned food service distributor, established in 1943. Over the years, it has grown into a national network with over 70 distribution centres. In financial year 2024 it recorded turnover of just under $3 billion employing over 2,800 staff.<br><br>In 2020, Woolworths Group acquired 65% of PFD’s equity for $552 million including PFD’s properties and distribution centres. In February 2025, Woolworths acquired the remaining 35% equity stake from the Smith Family for $380 million.<br><br>PFD supply a wide range of products, including fresh meat and seafood, dry goods, frozen and chilled items, confectionery, cleaning solutions, and packaging. Their customer base includes 39,000 food service customers including cafes, restaurants, pubs, fast-food chains, convenience stores, healthcare facilities, airlines, and more.<br><br>PFD's security as a business lies in its extensive distribution network, diverse product range, and commitment to food safety. They have implemented rigorous HACCP food safety programs and have been recognised with national awards for their compliance. Their ability to adapt and innovate, coupled with their strong customer relationships, ensures their stability and success.<br><br>PFD has occupied 38 Carlingford St since 2014 and has indicated a willingness to remain long term at the premises.<br><br>Links to more information:<br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.pfdfoods.com.au/about-us"><u>https://www.pfdfoods.com.au/about-us</u></a><br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://issuu.com/pfdfoodservices/docs/mini_company_profile_2019_lr_v4"><u>https://issuu.com/pfdfoodservices/docs/mini_company_profile_2019_lr_v4</u></a><br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.woolworthsgroup.com.au/au/en/our-newsroom/latest-news/2020/strategic-investment-in-pfd-foodservices-announcement.html#:~:text=Woolworths%20Group%20today%20announces%20it,equity%20interest%20in%20the%20business"><u>https://www.woolworthsgroup.com.au/au/en/our-newsroom/latest-news/2020/strategic-investment-in-pfd-foodservices-announcement.html#:~:text=Woolworths%20Group%20today%20announces%20it,equity%20interest%20in%20the%20business</u></a>.<br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.marketscreener.com/quote/stock/WOOLWORTHS-GROUP-LIMITED-6491360/news/Woolworths-Group-Limited-agreed-to-acquire-remaining-35-stake-in-PFD-Food-Services-Pty-Ltd-from-th-47786366/#:~:text=Upon%20completion%2C%20Woolworths%20Group%20Limited,2025%20to%20June%2030%2C%202025"><u>https://www.marketscreener.com/quote/stock/WOOLWORTHS-GROUP-LIMITED-6491360/news/Woolworths-Group-Limited-agreed-to-acquire-remaining-35-stake-in-PFD-Food-Services-Pty-Ltd-from-th-47786366/#:~:text=Upon%20completion%2C%20Woolworths%20Group%20Limited,2025%20to%20June%2030%2C%202025</u></a>.<br><br><a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.ibisworld.com/australia/company/pfd-food-services-pty-ltd/2474/"><u>https://www.ibisworld.com/australia/company/pfd-food-services-pty-ltd/2474/</u></a><span></span>
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38 Carlingford St, Bathurst: 852m² @ $103/m² 1/56 Russel St, Bathurst: 449m² @ $108/m² 1/40 Hampden Park Road, Kelso: 495m² @ $108/m² 2/82 Corporation Ave, Robin Hill: 573m² @ $138/m² 7 Michigan Rd, Kelso: 880m² @ $106/m²
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1. <b> Long-term secure rental income. </b><span style="font-weight:normal;">PFD have signed a new 5-year lease in November 2024 to October 2029 with 1 x 5-year option through to October 2034 (9.5 years).</span><br><br>2. <b>A blue-chip low-risk tenant providing piece of mind.</b> PFD are 100% owned by Woolworths. PFD have been in business for over 80 years, had turnover of almost $3 billion in FY24, employ 2,800 staff and have 70+ distribution centres.<br><br>3. <b>The property is versatile making it suitable to a large array of tenants.</b> Property offers a mix of dry, chilled, and frozen storage with offices, amenities and a meal room.<br><br>4. <b>Has development upside</b>. Property is on a large 3,466m² block with a rectangular 850m² portion currently unused.<br><br>5. <b>An attractive true net yield of 6%</b> with net passing income of just under ~$84,000.<br><br>6. <b>A location 200km from Sydney</b> with a diverse economy, a regional population of ~150k and well-developed road networks enabling easy transport of goods.
