Bunnings Warehouse in Hastings offered for sale
Katherine JimenezDecember 7, 2020
A Bunnings warehouse in Melbourne's Hastings is being offered for sale.
Constructed in 2011, the 1837 Frankston-Flinders Road warehouse is 9,204 square metres and is leased to Bunnings Group- a subsidiary of listed conglomerate Wesfarmers on a 12 year lease.
The property is described as having "significant depreciation tax benefits".
The net income is estimated at $985,000 per annum, with a favourable net lease structure and fixed annual increases of 3%.
A public tender campaign closes on 17 April through Mark Wizel, Justin Dowers and Rorey James of CBRE, in conjunction with GrossWaddell.