73-75 Gipps Street, Wollongong, NSW, 2500

Property Description

In October 2023 the Trust entered into an agreement with an un-related third party for the divestment of it's ex-Bunnings Warehouse property at Wollongong. The sale price of $40.0 million represents an 81.8 per cent premium to the fair value of $22.0 million (at 30 June 2023), resulting in a realised internal rate of return of 12.3 per cent per annum since the original acquisition. The proposed divestment follows a detailed review of alternative uses for the property. The property, positioned between Gipps Street and Throsby Drive, is located in an established industrial area. The property has 311 car bays. Bunnings vacated the property in March 2023. The property is leased to the Commonwealth Government for five years expiring in June 2027.

Land area

27,320 m²

The total GLA/retail area

10,811 m²

Bunnings lease commencement date


Total Property Cost


Current valuation


Annual Rent


Property Location

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