<p>Sale is positioned as the commercial and administrative heart of the Gippsland region, located approximately 197 kilometres east of Melbourne via the Princes Highway.</p> <p>This strategic regional centre serves as the principal transfer base for offshore oil and gas operations in the Bass Strait, with many notable companies conducting their operations from Sale. The oil production from these fields is estimated to last another 25 years, while gas reserves are projected to extend for 35-40 years, providing long-term economic stability.</p> <p>Sale is also home to the RAAF officer training base, which serves as the main postgraduate flight training facility for the Royal Australian Air Force. The base houses over 800 permanent staff and students, with expansion plans expected to increase the population by 25% and bring approximately 700 extra students completing courses annually.</p> <p>The broader Wellington Shire covers 10,924 square kilometres with a resident population of 46,394, supported by 4,040 businesses providing 18,111 local jobs. The region has experienced strong economic growth with Gross Regional Product surging by 63.73% over the past five years to $3.095 billion.</p> <p>Tourism is also significant for the region, with the Gippsland area attracting more than 6.71 million total visitors annually, representing a 19% increase from previous years.</p>

<p>The tenant, SRG Leisure Retail Pty Ltd trading as BCF (Boating Camping Fishing), is a wholly-owned subsidiary of <strong>Super Retail Group (ASX:SUL)</strong>, one of Australia and New Zealand's largest retailers with a market capitalization of $3.6 billion.</p> <p>BCF is Australia's #1 boating, camping and fishing retailer with <strong>over 150 locations across Australia and New Zealand</strong>. The brand has developed into a major specialist retailer since its launch by Super Retail Group in 2005.</p> <p>Super Retail Group is celebrating its 50th year anniversary and boasts an active club member base of 9.7 million people supported by 14,000+ team members globally. The group operates four iconic Australian retail brands: BCF, Supercheap Auto, Rebel and MacPac.</p> <p>Financial highlights of Super Retail Group include:</p> <ul> <li>$3.21 billion market capitalization</li> <li>$3.8 billion revenue in FY2022-23</li> <li>$274 million net profit after tax</li> <li>EBITDA cash conversion of 94%</li> <li>Opened 24 new stores nationally in FY24</li> </ul> <p>The subject property has been a successful outdoor retail outlet since construction in 2003, initially operating as Tackleworld before being acquired by Super Retail Group and rebranded to BCF in 2022.</p>

<p>The property delivers a strong financial performance with a current net rental of <strong>$221,731 per annum plus GST</strong>.</p> <p>The lease structure provides excellent income security with the following key terms:</p> <ul> <li>Seven (7) year lease term commencing 1 June 2022</li> <li>Expiry date of 31 May 2029</li> <li>Two further options of five years each, potentially extending to 2039</li> <li>Annual rent reviews based on CPI (capped at 2%, collared at 3%)</li> <li>Tenant pays outgoings including council rates, water rates, and public liability insurance</li> <li>Non-recoverable outgoings limited to single holding land tax ($1,770) and building insurance ($5,366.48)</li> </ul> <p>The property comprises a significant <strong>1,108sqm freehold corner site</strong> with <strong>1,320sqm dual-level building improvements</strong>, representing substantial underlying land value in a prime commercial location.</p>

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