Dan Murphy's is a top deal
SOME people invest in a wine cellar, while others sink a fortune into a discount liquor store.
That could be the case when the newly built Dan Murphy's stores in Coffs Harbour and Port Macquarie are offered at auction in Sydney later this month.
The properties housing the hugely successful discount liquor stores will go under the hammer, with a starting price of $7.5 million each.
The investments are attracting national interest, according to selling agent Burgess Rawson, which is advertising the properties through both its Sydney and Melbourne offices.
"Both properties represent once-in-a-lifetime opportunities and due to the standing of the tenant, long leases and prime coastal locations they are trophy quality that would be a prestige addition to any investment portfolio," said Darren Beehag of Burgess Rawson, Sydney.
Both properties boast 15-year leases plus options extending to 2067, backed by the security of Woolworths Ltd.
Woolworths wholly owns Dan Murphy's - Australia's leading liquor retail chain with over 140 outlets nationally.
"It is rare for two investments of this calibre to be offered to the open marketplace," said Shaun Venables of Burgess Rawson, Melbourne.
"Not only are they excellent commercial sites in their own right, but the fact they are offered with the long-term security of one of Australia's most successful retailers will ensure their popularity as wonderful secure investments."
The Coffs Harbour store fronting the Pacific Hwy/Grafton St affords high street exposure with the bonus of a double frontage to Elbow St at the rear. The auction is scheduled to take place on Tuesday, February 28.