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For Sale

79 George Street,
Millicent 5280, South Australia

25 car spaces
3,499m² land size
1,260m² building size
Retail

$2,600,000

Property details

Prominent Position with Multiple Leases

Positioned along the main street of Millicent with dual street access, 79 George Street offers an expansive commercial opportunity with multiple secure leases and further opportunity to be explored for any motivated investor, with current leases accounting for ~$190,000 per annum inc GST.

Situated on approximately 3499sqm, the main structure with George St frontage offers approx. 1260sqm of mixed retail and commercial use, with well recognised brands both nationally and locally, plus a vacant shop space offering further rental potential not currently realised.

From Railway Terrace at the rear, a renovated 3 bedroom 1 bathroom home provides a stable residential return of $320 per week on a fixed lease, as well as additional access to the off street carparking with room for ~25 vehicles.

The primary lease, being the IGA Supermarket, offers a 10+10+10 fixed lease (commenced in 2020) at $154,000 p/a inc GST + outgoings, with a footprint that could allow for further additions such as a bottle shop, lotto kiosk etc (STCA & licensing).

Subway has a 3+3 fixed lease (commenced in 2024) at $11,000 p/a inc GST + outgoings.

A locally owned salon in the middle shop offers access both from the internal causeway as well as an external access, and has held a long term lease paying $7,800 p/a inc GST.

The vacant shop offers 65sqm of retail space with great exposure and easy access from the rear entrance of the building and carpark, and has benefited from both fixed retail leases and "pop up" use in recent years, with the opportunity to add to strong annual returns.

Recent improvements at the property include a significant $150,000 upgrade to the central air conditioning system, and a large 60kw solar system to assist in utility expenses. The 3 bedroom dwelling has also benefited from an extensive renovation approx. 5 years ago.

A fantastic opportunity to secure a lucrative commercial investment in a regional township that has demonstrated significant growth in recent years and even greater potential for more - contact Alistair today for more information.

Additional Property Information:
Approx Property Age: 1950s
Land Size: approx. 3499sqm
Building Size: approx. 1260sqm
RLA - 291953

Inspections

Explore the area

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School catchments

  • St Anthony's Catholic Primary School Primary R-6 Catholic 0.61km
  • Millicent North Primary School Primary R-6 Government 1.1km
  • Newbery Park Primary School Primary R-6 Government 1.5km
  • Mount Burr Primary School Primary R-6 Government 11.0km
  • Rendelsham Primary School Primary R-6 Government 12.5km

Nearest schools, measured in a straight line from the property. Provided as a guide only; check catchment and enrolment eligibility with the school. School data © ACARA, licensed under CC BY 4.0.

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