Genuine opportunity to acquire an outstanding retail investment in the heart of Whyalla’s Retail/commercial precinct!

The property is occupied by long standing national tenant Spotlight which occupies some 2,800 sqm of lettable area, including Toyworld who sublet a small portion.
128 McDouall Stuart comprises approximately 8,135 sqm of land with rare 2 street frontage providing additional development/expansion opportunities (subject to necessary consents).

Frontage to McDouall Stuart Avenue is approximately 87 metres and approximately 77 metres to Moran Street, which faces future development land and other commercial properties including Stratco.
The property is located within close proximity to Whyalla’s major shopping hub (Westland shopping centre) which includes Woolworths and Target but more specifically adjoins or is situated close to the following national tenants:

* Mitre 10 * Super Cheap Auto
* Repco * Harris Scarfe *City Surf * Beta Electrical*
* Radio Rentals * Cheap As Chips*

Current Net Income for the property is approximately $263,000 per annum and is currently leased until November 2014 with 3 further rights of renewal of 6 years each.
The Adjoining Supercheap Auto has just undergone an extension and the Westland Shopping Centre is earmarked for a $35 million expansion to commence in January 1013.
The recently released annual South Australian Major Developments directory outlines almost $2 Billion in investment projects which are either underway or due to commence in Whyalla and the immediate surrounding region in 2012.

These major projects range from expansion of the export port facility at Onesteel to electrical substation replacements, expansion of the Whyalla Hospital and Arafura’s Rare Earth Processing Complex.
In addition there are other major investments being planned in the region which are not yet on this official list. If these proceed they will more than double the level of investment and bring the total investment in projects in and around Whyalla over the next t