<p>Sale is strategically positioned approximately 187 kilometres east of Melbourne via the Princes Highway, serving as the commercial and administrative centre for Gippsland and the Wellington Shire. With an estimated immediate resident population of 15,302 and a trade catchment estimated at 42,000+, the city functions as a vital regional hub.</p> <p>The city has been established as the principal transfer base for offshore oil and gas operations in the Bass Strait, with many energy companies conducting their operations from Sale. Oil production in the Bass Strait fields is estimated to last another 25+ years, with reserves expected to last an additional 35 to 40 years.</p> <p>Sale is home to the RAAF officer training base, which is the main postgraduate flight training base of the Royal Australian Air Force, with a population of over 800 permanent staff and students. The expansion of the East Sale RAAF Base has created a 25% increase in population to the Shire.</p> <p>The Wellington Shire Council covers approximately 10,924 square kilometres of eastern Victoria with a residential population of 46,394. The region's economic output is substantial at $8.489 billion annually, with 4,040 businesses supporting 18,111 local jobs. The regional economy has surged by 63.73% in the last five years.</p> <p>The area is also a <strong>strong tourism destination</strong>, attracting over 6.71 million total visitors annually, with the Wellington Shire Council reporting 1.1 million domestic overnight visitors annually.</p>

<p>The property is leased to SRG Leisure Retail Pty Ltd trading as BCF (Boating Camping Fishing), a <strong>wholly-owned subsidiary of Super Retail Group</strong> (ASX:SUL).</p> <p>BCF has developed into Australia's #1 boating, camping and fishing retailer with <strong>over 150 sites across Australia and New Zealand</strong>. The retailer offers a comprehensive range of products covering boating, camping, fishing, watersports, 4WDs, caravans, clothing and footwear.</p> <p>Super Retail Group is one of Australia and New Zealand's largest retailers and the proud owner of four iconic brands: Supercheap Auto, Rebel, BCF and MacPac. Celebrating their 50-year anniversary, the group now boasts an active club member base of <strong>9.7 million people</strong>, supported by 14,000+ team members globally.</p> <p>The tenant commenced operations at the property in 2022, following the rebadging from Tackleworld, which had operated at the site since its construction in 2003. Super Retail Group has shown continued commitment to expansion, opening 24 new stores nationally in FY24.</p> <p>The current lease term is 7 years from 1 June 2022 to 31 May 2029, with <strong>two further terms of 5 years</strong> each extending potential occupation to 2039. This provides excellent tenant security for any investor.</p>

<p>The property presents a <strong>solid financial investment</strong> with a current net rental income of <strong>$221,731 per annum plus GST</strong>. The lease commenced at $220,000 pa + GST in June 2022 and has already increased to $228,888 pa + GST.</p> <p>The lease includes <strong>annual CPI rent reviews</strong> that are capped at 2% and collared at 3%, providing steady income growth while protecting both landlord and tenant interests.</p> <p>The tenant is responsible for all outgoings including council rates, water rates, public liability insurance, statutory registration fees, stamp duties and usage charges. The landlord's only outgoings are single holding land tax ($1,770) and building insurance ($5,365.48).</p> <p>With the tenant being wholly owned by <strong>Super Retail Group (ASX:SUL)</strong>, a top 200 ASX-listed company with a market capitalization of $3.6 billion, the covenant strength is exceptional. Super Retail Group reported a <strong>net profit of $274 million</strong> and revenue of <strong>$3.21 billion</strong> in FY2022-23.</p> <p>The long-term lease structure with options extending to 2039 provides <strong>income security and predictability</strong> for investors seeking a stable retail asset with strong growth potential.</p>

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