Shepparton Spotlight building sells for $4.34 million at auction

The building housing Shepparton’s Spotlight store sold for $4.34 million at an investment portfolio auction yesterday. The price represents a 7.8% return on investment.

The site of 8,094 square metres was one of 15 properties put under the hammer at Crown Casino by commercial agents Burgess Rawson.

Built in 2006, the building at 175 Benalla Road covers 3,220 square metres and returns $339,478 in rent. It has a 68 metre frontage, a rear loading dock and 130 parking spaces.

The lease to the homewares/haberdashery retailer – which has outlets in all states as well as New Zealand and Singapore - runs in increments until 2047.

The prominent location within the Victorian regional city’s bulky goods area is shared with Bunnings, Good Guys and Fantastic Furniture outlets. It is opposite Shepparton Marketplace which has Woolworths and Big W stores.

Auctioneer David Scholes said the site had a trade catchment of more than 100,000 people.