99 Bikes national leaseback portfolio coming to the market

544 South Pine Road, Everton Park, QLD.

RAY WHITE Commercial has been appointed to sell four properties across four states all with a head lease to 99 Bikes as a national leaseback portfolio sale.

The four opportunities are located in Queensland’s Everton Park (544 South Pine Road), Victoria’s Bayswater (10 Scoresby Road), ACT’s Phillip (36 Botany Street), and Western Australia’s Belmont (159 Great Eastern Highway).

10 Scoresby Road, Bayswater, VIC.

The assets are being offered as an expression of interest either individually or in-one-line and come newly refurbished with a Weighted Average Lease Expiry of nine years across the portfolio.

The properties are being marketed and sold by Ray White Commercial QLD Investment Sales Lachlan O’Keeffe and Michael Feltoe as the lead agents, utilising the full Ray White network accompanied by Ryan Trickey (Victoria), Ben Faulks (ACT), and Chris Matthews (WA).

36 Botany Street, Phillip, ACT.

“The most recent and successful strata sale in Burleigh Heads, Queensland, sold on a 5.7 per cent yield, and with the continued flight-to-quality amidst COVID-19, we expect these free-standing large format retail assets to be highly sought-after throughout the campaign,” Mr O’Keeffe said.

“99 Bikes has been considered an essential service business as it provides the product and services to both a critical mode of transport and an increasingly important form of outdoor exercise.”

159 Great Eastern Highway, Belmont, WA.

Sales across all 50 stores nationally are up a minimum 200 per cent, and as such, we believe these 99 Bikes tenanted investments will be considered the new ‘trophy’ assets,” Mr Feltoe said.

*Approximately.