Freehold on Rebel Fit site at Warners Bay hits the market

LOCATION: The property on Hillsborough Road will go to auction on August 3.WITH three years left on a four-year lease and a major investment by way of a substanial store refit, it’s little wonder that the freehold on the Rebel Fit store in Warners Bay is attracting attention from mum and dad investors as well as commercial buyers.
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Leased to 2020 to Rebel Sport Limited trading as Rebel Fit, with a further four-year option, agent Michael Chapman from Colliers is confident the successful bidder will pay more than $1.5 million for it when it goes under the hammer on August 3.

“We’re confident it will go for somewhere above $1.5 million how high above that we’re not sure, Mr Chapman said.

“The opportunity with this property is the good location. Warners Bay is a well known part of the Hunter region.

“The tenant is heavily invested with a fit-out completed so there’s a lot of value in a tenant like Rebel.”

With a secure lease, a prominent location ina retail complex with other national tenants and a current net income of $103,682 per annum plus GST (approximately), Mr Chapman said strong interest had been shown from a range of investors.

“We started marketing on July 1 so in little over a week we’veprobably had a dozen or so inquiries which is a pretty good response,” he said.

“There has been a lot more of mum and dad investors moving away from the housing market and some self-managed super funds looking as well.”

The total strata area is roughly 471 square metres with on-site parking.

Adjoining tenants include McDonald’s and7-Eleven.

The site is selling via public auction at 10.30am on Thursday,August 3 at Ground Floor, 18 Honeysuckle Drive, Newcastle.


Carrington saleThe site that houses Kitami’s Japanese Grocery and Catering in Carringtonis being pitched as a versatile investment by selling agent Lee Follington.

Located at 53 Young Street, it’s been listed at $540,000 through Ray White Commercial Newcastle with a 220 square metre building on 278 square metre site.

Zones R2 low density residential it has an existing tenancy at $40,3000 per annumgross.