This Trust was available to wholesale investors and contains a 16,704 sqm Bunnings Warehouse plus an adjoining 1,682 sqm in additional specialist tenancies in Newstead (Qld).
At the completion of construction Bunnings will have a 12 year lease, and they are supporting the additional tenancies with a three year rental guarantee.
The Trust was successfully settled in January 2017 and has an estimated completion date of August 2018. It is exciting to be involved in this innovative Bunnings project as they decrease their footprint but expand to three levels. This, in combination with the attached mixed retail and it’s inner city location, and it could well become the new Bunnings flagship.