Clark Rubber among tenants at $15m Darwin duo
Two properties in Berrimah Business Park are hitting the market for an estimated $15 million.
Expressions of interest are open for 639 and 655 Stuart Hwy until September 26.
CBRE WA Retail Investments and Large Format Retail director Richard Cash says the rare buy will attract investors across the country.
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“The appeal with both properties is the high quality nature of the tenancies and long term security to well-known, established retailers,” he says.
“There has been a shortage of supply for well-leased, large format retail products so we’re expecting a demand from people across the country.”
639 Stuart Hwy is fully leased with an income of $372,218 from tenants Clark Rubber and RSEA.
655 Stuart Hwy is also fully leased with an income of $682,768 from tenants including Beaumont Tiles, CAM Interiors and Keep Moving.
The properties are being sold individually or in-one-line via the expressions of interest campaign.
Cash is confident the properties will be sold for the estimated price.
“You’ve got two national tenants in one property, four strong tenants in the other,” he says.
“We see it as being a robust investment that will prove very consistent cash flow.”