Tuesday, August 28, 2012

Elsewhere- own your own plaza.

Yes, it's true- the catchily named Lane Cove Coles Centre is up for sale.


Now I don't pretend to understand all of this but it sure is some mighty fine real estate jargon:

  • Coles Supermarket & 5 specialty tenants offered for the first time in 25 years
  • Coles accounts for 73% of gross income - lease to July 2022 plus options
  • Speciality tenants include a Cellarbrations Liquor, Green Grocer, Butcher, Hairdresser and Florist
  • Prime location in Lane Cove, an affluent Lower North Shore suburb approx 9.5km to the north of the Sydney CBD
  • Future development potential (subject to tenant & council approval)
  • Net passing income $1,600,000 p.a approx
Anyway, there is also a video tour here which you can watch if so inclined. Closing date for expressions of interest is 5 September, so you only have a couple of weeks. Maybe call your bank manager today. 
If I owned it, I'd put a waterslide through that main atrium just for the hell of it, and build myself a penthouse apartment on the roof.

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