<p>Sale is strategically located approximately 187 kilometres east of Melbourne via the Princes Highway, serving as the commercial and administrative centre for the Gippsland and Wellington Shire regions.</p> <p>The city enjoys a <strong>substantial trade catchment exceeding 42,000 people</strong>, with an immediate resident population of 15,302. Sale has established itself as the principal transfer base for offshore oil and gas operations in the Bass Strait, with many energy companies conducting their operations from the city.</p> <p>Sale is home to the <strong>RAAF officer training base</strong>, the main postgraduate flight training facility of the Royal Australian Air Force, hosting over 800 permanent staff and students. This facility has created a significant 25% increase in population to the Shire, with approximately 700 students completing courses annually.</p> <p>The property is situated in a <strong>prime retail location</strong> within Sale's main commercial hub, complemented by neighbouring national retailers including Supercheap Auto (also owned by Super Retail Group), Burson's, Ritchie's IGA, ALDI, Coles, Harvey Norman, McDonald's and more. It's positioned just 70 metres from the Princes Highway intersection, which sees approximately 15,400 vehicles passing daily.</p> <p>The Wellington Shire is experiencing <strong>strong economic and population growth</strong>, with Gross Regional Product surging by 63.73% in the last five years to $3.995 billion. The region's population is forecast to grow 14.31% by 2046 to 53,033 residents, supporting continued retail demand.</p>

<p>The property is leased to <strong>SRG Leisure Retail Pty Ltd trading as BCF</strong>, a wholly owned subsidiary of Super Retail Group (ASX:SUL).</p> <p>BCF (Boating Camping Fishing) is <strong>Australia's #1 outdoor retailer</strong>, specializing in boating, camping, fishing, watersports, 4WDs, caravans, clothing and footwear. The brand has over 150 stores across Australia and New Zealand, serving a customer base of 9.7 million active club members.</p> <p>The subject property has operated as an outdoor retail outlet since construction in 2003, initially trading as Tackleworld before being acquired by Super Retail Group and rebranded to BCF in 2022. This demonstrates the location's proven retail performance over nearly two decades.</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. The group is celebrating its 50th year anniversary in 2023 and maintains a strong financial position with an EBITDA cash conversion of 94% and plans to open 24 new stores nationally in FY24.</p> <p>The current lease commenced on June 1, 2022, and runs until May 31, 2029, with two further five-year options potentially extending the tenant's occupation until 2039.</p>

<p>This investment offers <strong>secure income with excellent covenant strength</strong> from a nationally recognized ASX-listed tenant.</p> <p>Key financial details include:</p> <ul> <li>Current net rental: <strong>$221,731 per annum plus GST</strong></li> <li>Lease term: 7 years from June 2022 to May 2029</li> <li>Options: Two further terms of 5 years each, potentially extending to 2039</li> <li>Rent reviews: Annual CPI increases (capped at 2%, collared at 3%)</li> <li>Outgoings: Tenant pays council rates, water rates, public liability insurance and other usual outgoings</li> <li>Non-recoverable outgoings: Single holding land tax $1,770 and Building insurance $5,366.48</li> </ul> <p>The property is backed by Super Retail Group, which reported a <strong>net profit after tax of $274 million</strong> and annual revenue of <strong>$3.8 billion</strong> for FY2022-23. With a market capitalization of approximately $3.21 billion, Super Retail Group provides exceptional covenant strength as the tenant's parent company.</p>

<p class="mb-4">33333</p>

Download Write Up PDF