THE former Albury Bunnings store partially occupied by Harris Farms for less than six months has been put on the market.
The prominent Young Street property is jointly tenanted by Harris Farms and Amart Furniture with the latter the first to open its doors in late 2019 followed by Harris Farms earlier this year.
Known as the Albury Convenience Centre it is being offered for sale by JLL Retail Investments on behalf of the owner, a syndicate managed by FINDEX, formerly known as WHK and Crowe Horwath.
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Following redevelopment, the centre comprises a gross lettable area of 9690 square metres with 224 car parks, with and a current net income of about $1.85 million per annum.
"The asset provides investors with a secure income stream," JLL's senior director of retail investments Stuart Taylor said.
"This asset will be well sought-after as it offers incoming purchasers guaranteed income growth through fixed annual rental review, as well as significant depreciation benefits given the major redevelopment completed in 2020."
Mr Taylor's colleague Nick Willis said the opportunity to buy the Albury Convenience Centre was comparable to a Bunnings store or freestanding supermarket investment.
"The Harris Farm brand is one that is synonymous with affluent inner Sydney suburbs," Mr Willis said.
"The fact that this location is where the brand has decided to open their largest and latest flagship store is a testament to the strength of the Albury-Wodonga catchment."
It is being sold by an expressions of interest campaign closing on April 22.
Meanwhile, Macquarie Group's cropping arm Lawson Grains has hit the market, with the 105,000 hectare farmland portfolio including land in southern NSW areas such as Howlong, Rand, Daysdale and Jerilderie.
The entire portfolio could make close to $600,000 million based on the booming rural property market.
It produced 251,364 tonnes of grain last year and is also being sold via an expressions of interest campaign closing on April 29.
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