Dan Murphy’s Gladesville sells at auction to investor for $10.8m
A Dan Murphy’s at 330 Victoria Road in Gladesville has sold.
A Gladesville building housing a Dan Murphy’s has been snapped by an investor for $10.8m at a competitive auction.
The stellar result for 330 Victoria Rd represents a 3.8% yield as the commercial sector begins to stage a recovery after a chaotic 2020.
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The landholding was sold by Integral Properties (Aust) Pty Ltd who purchased the site from Fabcot Pty Ltd in 2015 — the in-house retail property division of Woolworths Group, who are the owners of Dan Murphys.
The building was owned by Woolworths’ Fabcot Pty Ltd until 2015.
Burgess Rawson director Darren Beehag said the property received hundreds of inquires throughout the campaign.
“The property is on a 15-year lease to 2030 including truly rare options extending a further 40 years to 2070 — a huge investor drawcard,” he said.
Mr Beehag said the property’s position in an affluent growth area among multi-story residential developments presented an incredible opportunity for thirsty investors.
“Dan Murphy’s investments are not listed to market often, particularly one of this calibre in metropolitan Sydney,” he said.
The site was highly sought after.
“In the well-regarded suburb of Gladesville, the property is a stone’s throw away from Sydney Harbour.”
Described as a “Triple A’ corner position, the new owner will benefit from Dan Murphy’s paying a net income of roughly $410,184 + GST per annum.
The 1721sqm property had 1344sqm of floor space, onsite parking for 48 cars and homeward-bound exposure to nearly 50,000 cars daily.
