A high-profile commercial investment in Armidale’s thriving Girraween retail district has been listed for sale by Gilberts Property Co in Sydney.
The property within the busy Girraween Shopping Centre precinct is currently leased by the Harvey Norman store in Armidale, is being offered for sale by Expressions of Interest, closing Thursday June 26 at 4pm.
Listing agent Michael Gilbert said the response from potential investors had already been positive.
“It’s been well received by buyers,” Mr Gilbert said.
“Harvey Norman is a brand people trust and like to invest in, and Armidale is a city that attracts interest thanks to its strong fundamentals and growth outlook.”
“The fact that the tenant has been there since 1996 is a huge drawcard.”
The current lease extends to 2028 with further options through to 2033, delivering secure long-term income with annual CPI increases capped at three per cent. The property boasts a substantial 2,248 sqm building area, ample customer parking, and is surrounded by established retailers including the service station, Australia Post agency, BWS, and Dominos, as well as being next door to the massive new Wholechild Early Learning centre.
Armidale’s strategic position on the New England Highway and its economic diversity spanning agriculture, education, healthcare, and manufacturing adds further weight to the investment’s credentials. With a Gross Regional Product of $2.8 billion and a growing population, the region continues to be a hotspot for stable commercial returns.
“This is an easily managed, premium tenant investment with an attractive price point,” Mr Gilbert said.
The net income is estimated at $262,895 per annum plus GST, presenting strong returns for those seeking reliable income in a rising regional market.
This listing is expected to draw interest from investors seeking to diversify into regional assets that combine strong tenancy with prime location.
For locals and out-of-town investors alike, this is more than just bricks and mortar, it’s a long-standing cornerstone of Armidale’s retail landscape, now offering a rare chance to share in the city’s commercial growth story.
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