Amajor retail complex in Mount Gambier has been sold to a private interstate investor for a hefty price following a recent property auction.
The Supercheap Auto, Boating Camping Fishing (BCF) and Petbarn building located on 249 Commercial Street West, Mount Gambier, was sold for $7.11m by Australian property agencies Burgess Rawson and Knight Frank at an investment portfolio auction last month.
There was interest from three out of state investors on the roughly 3212 sqm site, with two based out of Melbourne and one from Perth.
The winning bidder will hold the complex as an investment which included renewed and extended five-year leases on the three businesses which have been established on the site for over eight years and bring in an estimated net income of $542,120 per year.
