The brand-new Dan Murphy’s Neutral Bay is being offered for sale by developer Central Element, with marketing led by Scott Stephens and Logan Grisaffe of RWC Sydney North, in conjunction with CBRE.
Strategically positioned within the newly completed Pienza Retail Village, the property is underpinned by a new 10-year lease to Dan Murphy’s extending to 2035, with further options through to 2060, delivering investors a generational income stream.
Dan Murphy’s, a wholly owned subsidiary of Endeavour Group, is Australia’s leading liquor retailer, boasting more than 280 stores nationwide, annual revenues of $12.1 billion, and a loyalty base exceeding 5.5 million members. The brand has also been named Australia’s Liquor Store of the Year for three consecutive years.
Located in Neutral Bay, one of the Lower North Shore’s most affluent suburbs, the property benefits from exceptional demographics, strong local spending power, and significant barriers to entry.
“This is an incredibly tightly held market, and opportunities of this calibre rarely come to market,” said Mr Stephens.
“To secure a brand-new large-format Dan Murphy’s in an inner-city location - particularly one with lease options extending out to 2060 - is exceptionally rare. Investors are effectively locking in a long-term, high-performing retail asset backed by a nationally dominant tenant.”
The 1,187sqm* tenancy has been delivered in Dan Murphy’s latest corporate design format, offering a modern, high-appeal retail environment that reinforces the tenant’s long-term commitment to the site.
The asset offers a commencing gross rent of $993,600 per annum* + GST, underpinned by fixed 3 per cent annual rental increases, ensuring consistent, compounding income growth.
Mr Grisaffe highlighted the strength of the lease structure and tenant covenant:
“This is the kind of passive investment that institutional and private investors are actively chasing right now - secure income, fixed growth, and a tenant with an exceptional track record.”
“Combined with the tax advantages of a brand-new build and the prestige of the Lower North Shore location, it represents a compelling proposition for investors seeking both stability and long-term upside.”
Notably, this is the only new-build Dan Murphy’s delivered in inner-city Sydney since 2017, and one of just two stores within a 4km radius of the Sydney CBD - further enhancing its scarcity and investment appeal.
Positioned alongside premium retailers including Body Love, Wholegreens Bakery and Fresh Hospitality, the asset benefits from strong foot traffic and a complementary retail mix.
With its combination of a nationally recognised tenant, long-dated lease profile, and blue-chip location, the Dan Murphy’s Neutral Bay offering is expected to attract strong interest from both domestic and offshore investors.
