IGA building in Googong's North Village Centre up for sale

Investors typically look for a strong anchor tenant when considering a sizeable commercial opportunity, and they probably don’t come much more appealing than an IGA serving a growing local community.

That’s what’s on offer in the popular North Village Centre on Gorman Drive in thriving cross-border Googong.

An entire building forms the option, with the lease income appeal boosted by two further tenants: national fitness operator Club Lime and hairdressing salon Brush at Googong.

Darren Beehag of Burgess Rawson Sydney says there are further benefits for potential investors.

“This immaculately presented centre was only built in 2019 and it offers excellent tax depreciation benefits that complement that diverse income stream, anchored by IGA and IGA Liquor,” he says.

“The building is in a great location next to the Gorman & Co hotel, Dominos, a medical centre and pharmacy, childcare and the Googong Public School.”

There’s plenty of onsite parking within the North Village Centre.

The IGA and the bottle shop hold a 10-year lease until 2028 with options through to 2038. Net Income from all leases is around $570,000 a year. There are annual rent increases of up to 4 per cent that provide for growth.

Googong’s population is set to reach 18,500 by 2030 and currently houses about 9000 residents. It’s just 30 minutes from the Canberra CBD.

195 Gorman Drive, Googong

Price guide: $9 million-$9.5 million

Agent: Burgess Rawson, Darren Beehag 0411 226 223