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mmj.com.auYour Partners in Property

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Real Estate Wollongong mmj.com.auYour Partners in Property

propertyInformation Memorandum

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241 princes highway, bulli

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“Classic set and forget investment, leased to

Liquorland until 2023”

Real Estate

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Table ofContents

Executive Summary /////////////////////////////////////////////////////// 3Key Investment Highlights ///////////////////////////////////////////// 5Site Particulars ///////////////////////////////////////////////////////////////// 6Financial Summary /////////////////////////////////////////////////////////////// 7Lease and Tenancy Profile /////////////////////////////////////////////////////// 8Regional Overview /////////////////////////////////////////////////////// 10Floor Plan //////////////////////////////////////////////////////////////////// 12Letter of Exercise of Option //////////////////////////////////////////////////// 13Deposited Plans //////////////////////////////////////////////////////////////// 16Sales Process ///////////////////////////////////////////////////////////////// 19Disclaimer ///////////////////////////////////////////////////////////////// 20


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ExecutiveSummary

for more information contact selling agentsMMJ Real Estate Wollongong Gnd Floor, 6-8 Regent St, 02 4229 5555

Geoff JonesDirector, Commercial Sales

0418 421 [email protected]

Tim JonesDirector, Commercial Sales


Property address 241 Princes Highway, Bulli

tenant Liquorland (Australia) Pty Ltd

passing income $161,498* p.a. net + GST

sale method Public Auction10.30am, Thursday 17th December 201550 Margaret Street, Sydney

*All figures are approximate only

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Key InvestmentHighlights• Leased to Liquorland until 2023 plus options

• Excellent set and forget income of $161,498 p.a. net + GST

• Liquorland is an Australian liquor chain owned by Wesfarmers

• 1,212m2* allotment with Highway and rear street frontages

• 742m2* of gross floor area over two levels

• Sought after Northern suburbs location adjacent to Bulli Railway station

* All figures are approximate only

princes highway frontage

railway street frontage

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SiteParticulars

zoningThis property is zoned B2 Local Cente (Wollongong Local Environmental Plan 2009)

1 Objectives of zone

• To provide a range of retail, business, entertainment and community uses that serve the needs of people who live in, work in and visit the local area

• To encourage employment opportunities in accessible locations

• To maximise public transport patronage and encourage walking and cycling

• To allow for residential accommodation and other uses while maintaining active retail, business or other non-residential uses at the street level

2 Permitted without consent

Building identification signs; Business identification signs

3 Permitted with consent

Advertising structures; Amusement centres; Boarding houses; Car parks; Child care centres; Commercial premises; Community facilities; Educational establishments; Entertainment facilities; Exhibition homes; Function centres; Hostels; Information and education facilities; Medical centres; Passenger transport facilities; Places of public worship; Recreation areas; Recreation facilities (indoor); Recreation facilities (outdoor); Registered clubs; Residential flat buildings; Respite day care centres; Restricted premises; Roads; Self-storage units; Seniors housing; Service stations; Sex services premises; Shop top housing; Tourist and visitor accommodation; Veterinary hospitals; Wholesale supplies

4 Prohibited

Any development not specified in item 2 or 3

Title Lot 1, DP784995

areas and Dimensions

Land Area 1,212m2*

Ground floor 473m2*

First floor 269m2*

FrontagesPrinces Highway 15.48m*

Railway Street 15.33m*

town planning Zoned B2 Local CentreFloor Space Ratio 1.5:1Height Limit: 11 metres

All areas are approximate only


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FinancialSummary

gross annual passing rent $177,614.41

council rates $8,264.62

water rates $697.00

land tax $532.00

building insurance $6,622.00

total statutory outgoings $16,615.52 p.a

net annual passing rent $161,498.79

* All figures are approximate only

annual outgoings

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Lease and TenancyProfile

tenant Liqourland (Australia) Pty Limited

lease commencement date 13 May 2013

lease expiry 12th May 2018

exercised option commencement 13 May 2018

exercised option expiry 12 May 2023

further options 2 x 5 years

increases 3% or CPI annually (whichever lower)

current passing rent $177,614 p.a gross + GST

Liquorland is an Australian liquor chain owned by Wesfarmers and is one of three brands within Wesfarmers' Coles division, along with Vintage Cellars and the larger discount format First Choice Liquor. The chain comprises 831 stores.


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tenant Liqourland (Australia) Pty Limited

lease commencement date 13 May 2013

lease expiry 12th May 2018

exercised option commencement 13 May 2018

exercised option expiry 12 May 2023

further options 2 x 5 years

increases 3% or CPI annually (whichever lower)

current passing rent $177,614 p.a gross + GST

Lease and TenancyProfileFrom its origins in 1914 as a Western Australian farmers’ cooperative, Wesfarmers has grown into one of Australia’s largest listed companies with headquarters in Western Australia, its diverse business operations cover: supermarkets, department stores, home improvement and office supplies; coal production and export; chemicals, energy and fertilisers; and industrial and safety products. Wesfarmers is one of Australia’s largest employers and has a shareholder base of approximately 500,000. The primary objective of Wesfarmers is to provide a satisfactory return to its shareholders.

The Coles division was formed in November 2007 as a result of the acquisition of the Coles Group. Coles is a leading food, liquor and convenience retailer, with a presence in every Australian state and territory. The business operates more than 2,300 retail outlets across Coles and BiLo supermarkets, First Choice Liquor, Liquorland, Vintage Cellars and Coles Express. With more than 99,000 team members and approximately 19.9 million transactions a week, the Coles division is an integral part of the Australian retail sector.

The company aims to achieve this by:• Satisfying the needs of customers through the provision of goods and services on a competitive and professional

basis• Providing a safe and fulfilling working environment for employees, rewarding good performance abd providing

opportunities for advancement• Contributing to the growth and prosperity of the countries in which it operates by conducting existing operations

in an efficient manner and by seeking out opportunities for expansion• Responding to the attitudes and expectations of the communities in which the company operates• Placing a strong emphasis on protection of the environment and acting with integrity and honesty in dealings

both inside and outside the company

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RegionalOverview

The Illawarra region stretches from Helensburgh on Sydney’s southern rim to the South Coast village of Gerroa. The region encompasses an area of 1,128 square kilometres and includes the three local government areas of Wollongong, Shellharbour and Kiama with an overall population of approximately 283,000.

Wollongong LGA is the principal industrial area in the region, with its manufacturing heart centred around BlueScope Steel adjacent to the port of Port Kembla. The region’s coal mines are also located in the Wollongong LGA.

The employment profile of the Wollongong LGA broadly resembles the whole Illawarra region, although the proportion of Professional workers is higher than the Illawarra average.

Bulli is a northern suburb of Wollongong, along the south coast of New South Wales (lllawarra region). Bulli Beach is a popular surfing spot and it’s main historical features are the railway station, museum and the Bulli Hotel. Bulli is just over an hours drive (70kms) from Sydney CBD and less than 10 mins drive (12kms) from Wollongong CBD.

The property is in an ideal location have frontages to the busy Princes Highway and proximity to Bulli train station to the rear of the property.

The new $7 million, two-storey Woolworths which is expected to open its doors this month and is around 300 metres from the property. As well as being a 24 hour store it will house four specialty stores and a service station.


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Floor Plan


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Letter of Exercise of Option

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Deposited PlanLot 1, 784995

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SaleProcess

sale method Auction 10.30am, Thursday 17th December 201550 Margaret Street, Sydney

For more information contact mmj selling agents

MMJ Real Estate, WollongongGnd Floor, 6-8 Regent Street, Wollongong02 4229 5555

Geoff JonesDirector, Commercial Sales


Tim JonesDirector, Commercial Sales


Real Estate

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mmj.com.auYour

Partners inProperty

www.mmj.com.au

DISCLAIMER

The agent(s) for themselves and the vendors of these properties whose agent(s) they are, give notice that:

(i) The particulars are set out as a general outline only for the guidance of purchasers and do not constitute an offer or contract.

(ii) All descriptions, dimensions, references to conditions and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but purchasers should not rely on them as statements or presentations of fact, but must satisfy themselves by inspections or otherwise as to the correctness of each of them; and a draft Agreement for Sale of Land which is available for inspection at the offices of Martin, Morris & Jones Pty Limited – Wollongong. In the event of any inconsistency between this Property Report and the Agreement for Sale of Land, the provisions of the Agreement for Sale of Land shall prevail.

(iii) No person in the employment of the agents has any authority to make or give any representation or warranty whatsoever in relation to these properties.

(iv) Martin, Morris & Jones Pty Limited and the vendor, each of their associates and every person involved in the preparation of this Information Memorandum expressly disclaim any liability on any grounds whatsoever for any direct or consequential loss or damage (whether foresee able or not) which may result from any party acting on or relying upon all or any part of the information contained in the Information Memorandum notwithstanding any negligence, default or lack of care.

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copyright

The information in this document is subject to copyright and may not be copied, reproduced or duplicated. Aerial imagery and mapping supplied by nearmap.com.