IN THE heart of Foster at 37 Main Street, is this excellent opportunity to secure a prominent freehold with secure tenant operating a long and established supermarket business.
The property is set on approximately 482m2, is zoned commercial and has frontage to Foster’s Main Street, side lane and rear car park.
Commercial property has been tightly held in this popular township and this is proven by the fact that there are no shop vacancies in the town’s commercial precinct.
Currently occupying the property is the very well run and operated Foodworks supermarket, a long established business with a 10 year lease and a further two terms of 5 x 5 years.
It’s currently returning $75,850 per annum plus GST and incorporated in the lease is a fixed annual increase of 2.5 per cent with the tenant responsible for all outgoing costs.
Foster has a population of approximately 1500 and services an expansive area including the towns of Port Welshpool, Welshpool, Toora, Port Franklin, Fish Creek, Yanakie plus the beach resorts of Sandy Point and Waratah Bay and of course the holiday makers who flock to the iconic Wilsons Promontory.
The town boasts a secondary college and primary school, children’s centre, hospital, medical centre, 60-roomed high and low care nursing home, 18-hole golf course and excellent sporting facilities.
It’s home to the South Gippsland Water Board and Parks Victoria.
The property is selling by tender, with tenders closing on Friday, July 31, 2015 at 4pm.
For complete tender documents, contact the conjunctional selling agents: PBE Real Estate Wonthaggi 38-40, McBride Avenue, Wonthaggi, on 5672 1833
and Paragreen Real Estate, 17 Main Street, Foster on 5682 2100.