Byron Plaza
90-96 Jonson Street, Byron Bay, NSW, 2481, AU
Asset Description
JLL is excited to present the opportunity to purchase IGA Cameron Park, a freestanding supermarket located at the heart of one of New South Wales fastest growing suburbs.
With a new 10-year lease, expiring in 2034, the established supermarket provides an incoming purchaser with a secure and defensive income stream.
Built across a single level, IGA Cameron Park is situated on a high-profile 2,000 sqm located opposite the Cameron Park Community Centre and Care Community nursing centre. The supermarket is serviced by 27 at-grade car bays on title which is easily accessible via Northlakes Drive.
Cameron Park is located 16 kilometres west of the Newcastle CBD bordered by the Pacific Motorway and Newcastle Link Road. Home to nearly 10,000 residents, the suburb of Cameron Park has experienced significant growth since 2011 with a compound annual growth rate of 6.80%. This growth being more than 5 times Newcastle's population growth rate over the same period.1,2
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Attributes
Building area gross
7,911 sf
Occupancy
100%
Land area gross
21,528 sf
WAULT
10 years
Media
Investment Highlights
New 10-year lease to IGA expiring in 2034 with options to 2049.
Attractive net lease structure to an established IGA operator.
Secured with an annual rental review to the greater of 3.0% or CPI providing investors guaranteed rental growth.
Located in one of New South Wales fastest growing suburbs with a historic 10-year annual growth rate of 6.80%.1
Situated on a 2,000 sqm landholding underpinned by favourable development controls with a max height limit of 10 metres.3
Set to capitalise on over 4,800 new dwellings being constructed within a 3-kilometre radius by 2031.4
Footnotes
All figures stated are approximate.
All references to distances are as the crow flies.
All references to financial information is estimated as at 1 December 2024
1. ABS – Cameron Park, population (2021 & 2011)
2. ABS – Newcastle LGA, population (2001 & 2021)
3. NSW Planning Portal – October 2024
4.LocationIQ Report – Cameron Park (March 2022)
Contact brokers
IGA Cameron Park (0 Properties)
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Last updated
13 Oct 2024
