90-94 Lower Plenty Road, Rosanna
A land-rich suburban IGA-leased investment has sold for one of the sharpest yields for a suburban supermarket property in 2025 to date.
Fitzroys’ Chris Kombi, Chris James and Ben Liu sold 90-94 Lower Plenty Road, Rosanna, which is occupied by an IGA Supermarket Liquor. The high sale price of $3.475 million – above expectations – reflected a sharp 3.8% yield.
It marked for the first time in 40 years the property had changed hands.
The property comprises a 540sqm building, on a Commercial 1-zoned landholding of 737sqm with rear access, a 16.4m street frontage, and on-site parking for up to 7 cars.
It has a 5+5-year lease from November 2022 and has been operating as a supermarket for over 60 years, and also features a licensed Tattslotto outlet.
Kombi said the campaign generated strong interest from investors and land bankers, with 8 Expressions of Interest received.
“The buyer, who was sourced from the Fitzroys investor database, is an investor who was attracted to the property’s location, size and notable tenant,” he said.
“Investors and land bankers were attracted to the property’s immediate performance and long-term potential. The strong-trading tenant offered a quality income stream, while the large land proportions and favourable Commercial 1 zoning presented strong future redevelopment potential in a popular and growing location.
“Supermarket-leased properties with quality operators remain an excellent investment proposition at a time of share market and residential market uncertainty. This IGA supermarket really stands as a local favourite and community staple.”
Located in a high-profile position within the popular Rosanna Village shopping precinct, the property is surrounded by major tenants including Chemist Warehouse, Australia Post, Bakers Delight and Jetts Fitness, as well as popular cafés, medical clinics, pharmacies, takeaway outlets, and specialty retailer. It is also metres from a number of recently completed high-density residential developments, which James said had led to a significant increase in the local population, supporting the Rosanna Village traders.
t is also metres from a number of recently completed high-density residential developments, which James said had led to a significant increase in the local population, supporting the Rosanna Village traders.
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