High Yielding Mitre 10, Whole Of Land Lease

Ray White Retail are proud to present Mitre 10 Weipa. For sale by Auction on Friday 28th August, 9:45am (AEST) at Level 26, 111 Eagle Street, Brisbane City.

|What|
• 1,520sqm* large format retail investment
• Whole of land leased to Sunshine Mitre 10 since 2019 (19 locations)
• Leased to 2028 with a further option to 2031
• Essential service retail store, timber and building supplies
• Net Income of $189,613 + GST p.a.

|Where|
• Well-positioned 3,272sqm* corner land parcel
• Drive-up parking available for up 28 vehicles
• Within Weipa's essential industrial precinct, which includes a Tyrepower, Repco and Shell in addition to a public jetty
• Weipa is the largest town on the Cape York Peninsula, making it a key hub for one of Australia's most remote regions

|Why|
• The only hardware offering in the region, with the nearest Bunnings 800km* away in Cairns
• Mitre 10 is owned 100% by the ASX-listed Metcash, who also own the IGA, Total Tools and Home Hardware brands
• Below-market base rent of just $151/sqm*
• CPI annual increases

* approximately

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