THE home of Fantastic Furniture, BCF and several other major retailers in Bathurst has just hit the market.
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Perth-based syndicator Properties and Pathways has appointed CBRE to sell the Bathurst Supa Centre, which is located on Sydney road.
The 7480 square metre complex includes parking for 170 vehicles, rear loading capabilities and is currently 100 per cent leased to national tenants.
CBRE's Loughlin Bataille, who is one of two people who will market the property, expects to see high demand for this property.
“We are continuing to experience strong demand for well-leased and secure retail investments, in particular those opportunities that provide value add and growth potential,” he said.
“Bathurst Supa Centre has undergone recent refurbishments that have strengthened the centre’s investment appeal, with it offering a WALE (weighted average lease expiry) of five years.
"Noting the long-term security, growth and attractive price point, we anticipate strong interest in the asset from private investors and syndicators.”
The listing of the Supa Centre comes after another multi-tenanted commercial property sold in Bathurst for $1.85 million.
The Durham Street site, which encompasses Pizza Hut, Johnny Bean Good and Burgess Rawson, was listed in January and sold prior to auction to a Sydney investor.
At the same time, The Gateway development is progressing at Kelso, with some retailers likely to open before the end of the year.
Bathurst Business Chamber vice president Catherine Fitzsimons can see this as an exciting time for commercial real estate and business.
She said it would be interesting to see how long the Supa Centre stays on the market and what is sells for.
The business chamber will also be keeping an eye on the changes The Gateway makes at the entrance to Bathurst.
"It will be very encouraging for Bathurst to see that corridor … looking more prosperous than that corridor has looked in the past," Ms Fitzsimons said.
