OFF MARKET

170-172 Baylis Street
Wagga Wagga NSW 2650

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1313m2
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Property Details for 170-172 Baylis St, Wagga Wagga

Building Type
Commercial
Land Size
1313m2
Local Government
Wagga Wagga
Lot/Plan
1/DP778712

Last Listing description (October 2023)

Next Commercial is pleased to present 170-172 Baylis Street, Wagga Wagga NSW for sale.

170-172 Baylis Street is secured by Australian retail icon Best & Less. This investment presents an outstanding opportunity to acquire an asset offering defensive set and forget investment fundamentals.

Best & Less have occupied the property for 30+ years and have recently renewed a 5 year lease backed by parent company Best & Less Group Holdings Ltd. (ASX:BST), whilst being located in the heart of the towns main street opposite the Sturt Mall Shopping Centre.

Best & Less Group (BLG) is a leading value apparel specialty retailer with an omni channel sales network comprising 250 physical stores and an online platform. BLG operates in Australia and New Zealand through its two trusted brands: Best & Less (186 stores in Australia) and Postie (63 stores in New Zealand).

+ Brand new 5 year lease extension commenced 1 July 2023 plus option to 2033
+ Best & Less - long-standing tenant in occupation for 30+ years
+ Best & Less operates 186 stores nationwide, primarily focusing on regional areas
+ Dominate 1,313sqm* main street site extensively refurbished internally and externally providing customer parking at the rear
+ Wagga Wagga: NSW largest inland city, population of 68,227 which is expected to grow by over 12% to 2036
+ Fixed 3.5% annual increases
+ Annual net Income $267,620* +GST

To obtain an Information Memorandum or to arrange a site inspection, please contact exclusive marketing agents:

Ryan Cross
Next Commercial
m: 0402 147 124
e: ryan.cross@nextcommecial.com.au

Anthony Bray
Next Commercial
m: 0419 322 233
e: anthony@nextcommercial.com.au

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Property History for 170-172 Baylis St, Wagga Wagga, NSW 2650

A timeline of how this property has performed in the market
Last Sold
$3,850,000
04 Oct 2023
  • 04 Oct 2023
    Sold for $3,850,000
  • 20 Jun 2023
    Listed for Sale Contact Agent
  • 06 Jun 2007
    Sold for $2,650,000
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About Wagga Wagga 2650

The size of Wagga Wagga is approximately 8.9 square kilometres. It has 13 parks covering nearly 21% of total area. The population of Wagga Wagga in 2011 was 6,961 people. By 2016 the population was 7,109 showing a population growth of 2.1% in the area during that time. The predominant age group in Wagga Wagga is 20-29 years. Households in Wagga Wagga are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Wagga Wagga work in a professional occupation. In 2011, 47.8% of the homes in Wagga Wagga were owner-occupied compared with 45.5% in 2016.

Wagga Wagga has 6,071 properties. Over the last 5 years, Houses in Wagga Wagga have seen a 64.07% increase in median value, while Units have seen a 56.42% increase. As at 30 September 2024:

  • The median value for Houses in Wagga Wagga is $562,557 while the median value for Units is $348,780.
  • Houses have a median rent of $490 while Units have a median rent of $380.
There are currently 67 properties listed for sale, and 57 properties listed for rent in Wagga wagga on OnTheHouse. According to CoreLogic's data, 253 properties were sold in the past 12 months in Wagga wagga.

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