Bunnings for sale at Springfield
SAVILLS has been appointed to sell the new building that houses Bunnings Warehouse at Springfield.
The 15,972sq m store and parking for 325 cars was developed by Bunnings and will be offered for sale via a national Expressions of Interest campaign being conducted by Peter Tyson and Jon Tyson of Savills.
The new store was completed and commenced trading in August 2015 and will be offered with an initial 12-year lease with eight six-year options.
The store was developed on a prominent 37,110sq m site situated immediately opposite the Orion Springfield Central shopping centre.
Savills National Director of Retail Investments, Peter Tyson commented: "Assets of this pedigree do not often come to market in Queensland.
"Given the ultra-prime bond style nature of the offering, we anticipate strong investor interest. The Bunnings lease is one of the most highly prized covenants in today's market."