Bunnings selling year-old Springfield, Queensland warehouse

Bunnings is selling its new warehouse which recently opened in the master-planned community of Springfield in Queensland. 

The 15,972sqm store has parking for 325 cars and is offered for sale through an expressions of interest campaign being conducted by Peter Tyson and Jon Tyson of Savills.

Offers are due October 28. 

The new store commenced trading in August this year.

It will be offered with an initial 12-year lease with eight six-year options. It is offered with a net annual income of $2,115,000.

The store was developed on a prominent 37,110sq m site.

Springfield Central is the CBD of the Greater Springfield master-planned community, which is home to around six new suburbs, including Springfield, Springfield Lakes, Brookwater, Spring Mountain and Augustine Heights. 

“Assets of this pedigree do not often come to market in Queensland. Given the ultra-prime bond style nature of the offering, we anticipate strong investor interest. The Bunnings lease is one of the most highly prized covenants in today’s market,” said Peter Tyson, Savills national director of retail investments.