Coober Pedy property package making $6m-plus a year for sale
Coober Pedy is world-renowned for its opals and unique properties.
While not underground like many others in the SA outback town, one property is offering savvy buyers a real gem that generates more than $6m a year.
The investor package includes a 2745sqm building on the town’s main street with three established businesses and a leased site tenanted by a pharmacy, as well as a three-bedroom home.
The businesses – Home Hardware, Australia Post and Cellarbrations Liquor Store – are the only ones of their kind in the town.
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The Coober Pedy property at 29 Hutchison St includes three businesses.
One is a Home Hardware store.
McGees Property’s Grant Clarke is selling the 6242sqm property at 29 Hutchison St, which generates more than $6m per annum, on a walk-in, walk-out basis.
“It’s an amazing opportunity to acquire prime real estate and three very profitable businesses in the main retail precinct of the opal capital of the world,” he said.
“It boasts an excellent presence in the heart of the township.
“Given the nature of the town’s economy, the Home Hardware store is in heavy demand seven days a week.
“It’s the only hardware store in Coober Pedy and offers all residential and commercial builders’ products, together with general building supplies and key cutting.”
The Australian Post office is the town’s only post office and money transaction centre, and has more than 1000 post boxes.
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Another of the businesses included is a Celebrations Liquor Store.
An Australia Post office is also part of the deal.
The Cellarbrations Liquor Store is also the only bottle shop in the town and it supplies clubs, restaurants, large mines and outback stations, as well as tourists and locals.
Meanwhile, the pharmacy is run independently and subject to a five-year lease from August 2023 – with two rights of renewal of five years each – and generates more than $22,000 each year.
The solid brick three-bedroom home included in the package is at the business’ rear, offering a place for an owner-occupier or venue manager to live.
Expressions of interest for the property close at 4pm on November 19.
