A supermarket premises that has played a key role in a Sunshine Coast town for more than a century is for sale, with rare conditions.
The historic No.26 Maple Street building at Maleny is being marketed by Ray White Commercial Retail’s Michael Feltoe and Lachlan O’Keeffe, on behalf of a local private investor.
The centre, on the town’s main street, is leased to renowned IGA operator Seasons Supermarkets on a 12-year lease to 2034, returning more than $787,000 annually.
Mr O’Keeffe said it boasted landlord-favourable lease terms with a sought-after triple net lease structure, rarely seen in supermarket investments.
“This investment is the epitome of set and forget – just one tenant leasing the whole of the land, all outgoings recoverable, including land tax, and almost 10 years until lease expiry,” he said.
Mr Feltoe said the property had long been an iconic feature of Maleny.
“With a rich history of almost 120 years as a supermarket, and specifically a history of an IGA for over 30 years, this should give utmost confidence to any purchaser as to the strength of this location,” he said.
Expressions of interest for the building will close on Wednesday, October 23.
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