THE Dan Murphy's Bathurst building and land has sold for more than $11 million, the real estate company that negotiated the sale has confirmed.
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Savills Australia says the CBD building and prominent location on the corner of George and Durham streets sold for $11.187 million.
The Dan Murphy's business will continue to be the tenant at the site.
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Savills says the sale's yield (calculated using the annual rent paid on the property and the sale price for the property) of 4.5 per cent is a regional NSW record for the "asset class" of freestanding supermarket and liquor stores.
"This asset class remains a highly sought after sector of the Australian market with groups bulking up on essential services and daily needs," Savills Australia national director of retail investments Steven Lerche said.
Mr Lerche negotiated the sale alongside colleague Andrew Palmer.
"In the last four years, only seven Dan Murphy's liquor stores have sold, with Bathurst being the only one to sell this year," he said.
"This recent sale of Dan Murphy's Bathurst offers 1282 square metres of gross lettable area on a 3952 square metre site and reaffirms that non-discretionary retail continues to hit the spot."
He said other sales in this asset class so far this year include Woolworths Kyabram in central Victoria, Woolworths Greenvale Lakes in outer Melbourne and Coles Woodend, north west of Melbourne.
Mr Lerche said strong regional towns across the country have all prospered despite the effect of COVID-19 across the country and he believes they will further benefit from local tourism while international borders are shut.
Bathurst's commercial property site at the corner of George and Piper streets was sold for $2.37 million in 2018 and the Victoria Hotel building on the corner of Keppel and Havannah streets sold for $1.1 million last year after just 10 days on the market.
Bathurst's Dudley Hotel, meanwhile, was sold earlier this year as part of a five-pub regional package in a total deal believed to be worth around $75 million.