Dixon Commercial Real Estate are pleased to offer for sale 151 Federation Avenue, Corowa via public auction on Friday 23 February at 2.30pm on-site.
This well-presented 10-unit motel is superbly positioned on Federation Avenue, which is Corowa's main thoroughfare from the South. The site is approximately 2,727 sqm and includes barbeque and recreational area, whilst 8 of the 10 units have had recent renovations to the bathrooms.
Also included on-site is a 3-bedroom residence with a functional living and kitchen area.
The property is offered for sale subject to a lease to Rivalea Australia. Rivalea is over 50 years old and employs more than 1,000 people across various pork producing and processing sites in Australia, with Corowa its Corporate Headquarters. Rivalea has recently been acquired by JBS Foods Australia which is the country's largest meat and food processing company, and a subsidiary company of the worlds leading global food company.
Lease details are as follows:
Tenant: Rivalea (Australia) Pty Ltd
Lease: Five (5) years commencing April 2023, expiring 2028
Option: Nil
Rent: $150,000 per annum (plus GST and outgoings)
Rent Reviews: 2.5%
This offering represents a rare opportunity to acquire a securely leased motel investment in a Murray River tourist town and renowned wine region location.
Terms: 10% deposit, balance 60 days.
For more information please contact the Sales Agents below.