Prime Investment Opportunity Leased to National Retail Tenant in the Heart of the Limestone Coast

Colliers presents a retail investment in the centre of Naracoorte, securely leased to The Reject Shop.

Colliers is delighted to present for sale 86-88 Smith Street, Naracoorte. Securely leased to The Reject Shop on a 6-year lease term with 2 x 3 year options to 2035 and a net annual income of $126,577*.

The property occupies a large 1,090sqm* landholding along Naracoorte’s main commercial and retail thoroughfare and benefits from dual street frontage. Recently refurbished improvements offer good depreciation benefits and receive abundant natural light from floor to ceiling windows fronting Smith Street. Back of house facilities include a rear store area, office, lunchroom and kitchen and bathroom amenity.

Rhys Newman, Colliers Associate Director, South Australia | Investment Services, said, “This property not only offers a stable and attractive income stream, but also significant future potential given its prime location and the tenant’s strong performance.”

“The Reject Shop, which comprises a team of over 4,000, generated record FY24 sales of over $852 million, up 4.1%. Having recently been acquired by Canadian discount giant Dollarama for $259 million, The Reject Shop plans to double the number of stores in Australia to around 700,” Mr Newman added.

Located along Naracoorte’s main thoroughfare, the building benefits from fantastic local exposure and ample front and rear on street parking. Zoned Township Main Street, the property accommodates a variety of uses including, but not limited to, retail, office, consulting, childcare and residential (STCA).

Jack Dascombe, Colliers Executive, South Australia | Investment Services, commented, “Given the value proposition afforded by regional investment opportunities, our team have experienced growing market interest on these campaigns. Securely leased investments attract significant attention, with our most recent leased investment campaigns collectively generating over 1,100 enquiries, highlighting the strong demand for assets of this calibre.”

Across the road from Westpac, NAB and Commonwealth Bank, in addition to being opposite the entrance to Naracoorte’s main shopping centre Kincraig Plaza; anchored by Woolworths, 86-88 Smith Street receives excellent visibility and benefits from high foot-traffic. Surrounded by Naracoorte’s local retailers, the property is also within walking distance of major brands including Repco, Mitre 10, McDonald’s, Hungry Jack’s and Subway.

Located a one hour drive from Mount Gambier and 3.5 hours from Adelaide, Naracoorte sits within the Limestone Coast; a region responsible for generating $520million in annual tourism revenue.

Well-known for the Naracoorte Cave complex, SA’s only World Heritage Site, Naracoorte is a popular town for tourists given its natural attractions and proximity to other tourism hubs including Mount Gambier, Robe, Lucindale and Kingston. With 70% of the Council’s area being utilised for primary production, livestock production, horticulture, cropping and viticulture play key roles in the region’s economy.

Colliers’ agents Rhys Newman, Jordan Schmidt, and Jack Dascombe are managing the Expressions of Interest campaign, closing Thursday 8 May 2025 at 3pm (ACST).