A PRIME piece of real estate the centre of Bendigo is up for sale.
Expressions of interest for the Target build in King Street are open until November 17 through agents Ryder Commercial and Savills Retail Investments.
Located across 31 and 33 King Street, the building has been home to Target since the 1980s. It has a land area of 6451 square metres and three street frontages.
"The subject property is also being offered with a renewed 11-year term in addition to the security of an ASX-listed Wesfarmers lease covenant and is underpinned by a highly sought after and incredibly rare net lease," Ryder Commercial managing director Mark Ryder said.
"It is positioned directly opposite council multi-story car park development and together with adjacent on grade car parking provides for over 500 vehicles, giving the property a unique nature along with flexible planning controls providing good future redevelopment potential (STCA)."
Savills national director of retail investments Steven Lerche said Bendigo is Victoria's third largest economy.
"Bendigo enjoys a population of over 120,000 residents and services a vast regional catchment of 250,000 people," he said. "A number of historic properties are located in the surrounding precincts along with Bendigo Hospital and a major heath precinct.
"Target have traded from the property for nearly 35 years and continue to trade strongly on this prime site at what is considered low rent and occupancy cost."
Target Bendigo is for sale by expressions of interest until noon on Wednesday ,November 17.
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