The home of Fantastic Furniture in Ravenhall, next to Caroline Springs, has hit the market through Stonebridge’s Rorey James, Kevin Tong and Nic Hage.
The 2,500 sqm corner is next to the likes of Officeworks, Bunnings, Petbarn and the soon to be Spotlight, who has recently committed to the old Burnside Masters site.
“Ravenhall has continued to evolve into what is now a major retail catchment, and with major developments planned further west together with the recent addition of Spotlight to go with Bunnings Warehouse and many others, the area will continue to grow. There is already zero retail vacancy surrounding Fantastic Furniture, with very few opportunities for other retailers to get into the precinct.” – Rorey James, Stonebridge.
Fantastic Furniture has performed very well during the past 18 months, highlighted by their recent extension of the lease in Ravenhall for another 5 years during the depths of COVID, clearly signalling their confidence and commitment to the area. – Kevin Tong, Stonebridge.
The high performing national retailer has 80 stores across Australia, and they form part of Greenlit Brands, a global integrated retailer and manufacturer of household goods who also own other major retailers including Freedom, Snooze and OMF.
The property located 1093 Western Highway in Ravenhall currently returns $432,000 per annum net, with the tenant paying all outgoings including land tax.
“With a rare net lease that includes the tenant paying land tax as well as all other outgoings, we expect investors to jump at the opportunity to acquire a low-risk asset with a return substantially higher than what the bank is offering.” – Nic Hage, Stonebridge.
The expression of interest campaign will close November 18th
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