Dan Murphy’s Gladesville sells at auction to investor for $10.8m

Real EState

A Dan Murphy’s at 330 Victoria Road in Gladesville has sold.

A Gladesville building housing a Dan Murphy’s has been snapped by an investor for $10.8m at a competitive auction.

The stellar result for 330 Victoria Rd represents a 3.8% yield as the commercial sector begins to stage a recovery after a chaotic 2020.

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The landholding was sold by Integral Properties (Aust) Pty Ltd who purchased the site from Fabcot Pty Ltd in 2015 — the in-house retail property division of Woolworths Group, who are the owners of Dan Murphys.

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The building was owned by Woolworths’ Fabcot Pty Ltd until 2015.

Burgess Rawson director Darren Beehag said the property received hundreds of inquires throughout the campaign.

“The property is on a 15-year lease to 2030 including truly rare options extending a further 40 years to 2070 — a huge investor drawcard,” he said.

Mr Beehag said the property’s position in an affluent growth area among multi-story residential developments presented an incredible opportunity for thirsty investors.

“Dan Murphy’s investments are not listed to market often, particularly one of this calibre in metropolitan Sydney,” he said.

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The site was highly sought after.

“In the well-regarded suburb of Gladesville, the property is a stone’s throw away from Sydney Harbour.”

Described as a “Triple A’ corner position, the new owner will benefit from Dan Murphy’s paying a net income of roughly $410,184 + GST per annum.

The 1721sqm property had 1344sqm of floor space, onsite parking for 48 cars and homeward-bound exposure to nearly 50,000 cars daily.