Officeworks Ballarat site for sale
Staff ReporterDecember 7, 2020
An Officeworks tenanted site in Ballarat has been listed through CBRE.
The 4,857sqm retail holding, located at 116 Creswick Road, Ballarat Centre, features a substantial freestanding building of 2,117sqm.
The property benefits from a new eight year lease to prominent national retailer Officeworks, with option for up to 12 years extension.
CBRE noted recent sales of Officeworks Vermont South (4.9 percent initial yield) and Officeworks Woollongabba (5.8% initial yield) indicated the demand from the buyer market.
Strong future growth projected for the Ballarat market is expected to increase to 139,600 residents by 2031.
Offers are due June 17.