Two of the country’s top performing ASX covenants, Dan Murphy’s & CBA are expected to attract significant investor interest, when they hit the market this month.
Colliers’ Directors of Retail Investment Services Mike Crittenden and Tim McIntosh, have been exclusively appointed to sell two iconic inter-generational freestanding retail investments on Glenferrie Road, Malvern – Melbourne’s fifth most expensive suburb. The two trophy retail investments are offered for sale individually or in-one-line via an International Expressions of Interest campaign closing Thursday 28 July 2022.
“Dan Murphy’s & CBA, Malvern both boast incredibly rare and highly sought-after triple net lease structures, fixed annual increases, on an unrepeatable landmark corner site of the coveted Glenferrie Road, Malvern,” Mr Crittenden said. “Investors will be attracted to the guaranteed rental growth from both Dan Murphy’s & CBA who are secured on incredibly rare triple net leases.”
The assets are located at the epicentre of one of Melbourne’s premier retail precincts – Glenferrie Road, only 8km southeast of the Melbourne CBD, in the affluent suburb of Malvern, where the median house price of $3.85 million is 71% higher than metropolitan Melbourne averages along with household incomes 40.6% above metropolitan Melbourne averages.
Mr Crittenden said this is a once in a century opportunity to secure two of Australia’s most trusted brands and top performing ASX covenants; Dan Murphy’s, wholly owned by the Endeavour Group (ASX: EDV) and Commonwealth Bank of Australia (ASX: CBA), Australia’s second largest company with a market capitalisation of $162 billion.
Mr McIntosh said the properties strategic underlying land and flexible commercial 1 zoning would hold significant appeal to long-term investors, with significant precedence within immediate proximity supporting greater density in the future.
“The opportunity to acquire ultra-defensive freestanding retail investments in metropolitan Melbourne with attractive annual growth is becoming increasingly rare, even more so ones such as Dan Murphy’s and CBA Malvern that offer genuine future development upside. We are looking forward to presenting this inter-generational opportunity to the market and anticipate strong interest from local, interstate and offshore investors” he said.
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