Charter Hall continues momentum with Bunnings, acquiring Nowra for $65m with 12-year net lease
21 February 2022 - Charter Hall Group (Charter Hall or the Group) is pleased to announce that the Direct Industrial Fund No.4 (DIF4 or the Fund) has acquired Nowra’s Bunnings warehouse for $65.3 million with an attractive net lease of 12-years and an initial passing yield of 4.0%.
The property is a near new, full format warehouse, offering limited capital expenditure over the remaining 11-year lease term. It was transformed in 2021 from a mid-sized format on the same site and is 100% occupied by Bunnings.
Located at 159 Princes Highway, South Nowra, with a prominent 240 metre frontage, this is the only Bunnings in the trade area and the largest on the NSW South Coast.
The total site area is 29,350 square metres (sqm) with an approximate GLA of 17,982 sqm and parking for 428 cars. It is conveniently located on the main arterial road connecting Sydney to the South Coast of NSW.
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