A rare opportunity has arisen to acquire a full-line Woolworths supermarket paying turnover rental, based in the heart of Umina, an established residential precinct within the NSW Central Coast, 90km north of Sydney CBD.
Despite Coles and Aldi trading within 300 metres, Woolworths Umina Beach is the dominant and largest supermarket in its catchment trading 20% above Urbis benchmark.
Featuring a rare 18 year lease with 10-year option periods, this opportunity comes at an important time in the market when there is incredibly limited supply of freehold supermarket investments in NSW.
The supermarket, with 4,451 square metre total site area and 3,865 square metre total in GLA, has a low occupancy cost of 2.5%, highlighting the strength of store performance and profitability.
Woolworths Umina Beach is exclusively listed with the Colliers team of James Wilson and Ben Wilkinson.
“Woolworths Umina Beach is the first NSW freehold supermarket to be publicly marketed in over 12 months. Colliers anticipate incredibly strong interest from predominantly domestic and offshore private investors due to pent up demand from new and existing supermarket mandates,” Wilson said.
“Featuring a WALE of 6.64 years by GLA and Income, Woolworths Umina Beach offers exceptional long-term security, with Woolworths supermarket currently paying turnover rent. Strong supermarket performance is supported by a population density 10 times the Central Coast average,” Wilkinson added.
Woolworths Umina Beach offers significant site exposure, courtesy of 230 metres of triple street frontage along West Street, Bullion Street, and Trafalgar Avenue. The centre offers convenient access for both residents and tourists, with 118 basement car parking spaces and adjacent council car parking.
Woolworths Umina Beach is for sale by an Expressions of Interest (EOI) campaign closing on Thursday 17 October 2024 at 2pm (AEDT).