Merimbula Woolies on the market

The Merimbula Woolworths Supermarket in Main Street, is on the market.

At an approximate size of 2,355sqm it is the biggest retail space in the Pambula Merimbula area.

Developed in 1989 as a Cannons supermarket this is the first time it has been offered to the market in 22 years.

The sale of the property is being handled Savills, of Sydney on behalf of a private owner.

Steven Lerche, Savills’ national director – retail investments said, “This is an extremely exciting opportunity to acquire a single tenanted retail investment, 100 per cent leased to Woolworths Limited with a rare net lease structure in place providing full recovery of rates and taxes and annual CPI rent increase.”

Mr Lerche added, “We expect a high level of interest from eastern seaboard investors given that the property has a blue chip lease covenant to Woolworths Limited coupled with the fact that it is located in one of the most popular tourist destinations in New South Wales.”

The building and associated basement and open on site car parks is for sale via Expression of Interest closing Wednesday, May 21.

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