Savills has been appointed by Bunnings to sell its new Bunnings Warehouse Springfield which recently opened in the Springfield Central CBD.

The 15,972sq m store and parking for 325 cars was developed by Bunnings and is to be offered for sale via a national Expressions of Interest campaign being conducted by Peter Tysonand Jon Tysonof Savills. The new store was completed and commenced trading in August 2015 and will be offered with an initial 12-year lease with eight six-year options.

The store was developed on a prominent 37,110sq m site situated immediately opposite the Orion Springfield Central shopping centre. Orion is currently being expanded to include a new Coles Supermarket, Target store, multi-screen Event Cinema complex and additional specialities.

Springfield Central is the CBD of the Greater Springfield master-planned community, which is home to around six new suburbs, including Springfield, Springfield Lakes, Brookwater, Spring Mountain and Augustine Heights.

Savills National Director of Retail Investments, Peter Tyson commented: 'Assets of this pedigree do not often come to market in Queensland. Given the ultra-prime bond style nature of the offering, we anticipate strong investor interest. The Bunnings lease is one of the most highly prized covenants in today's market.'

'Investment highlights include the long term lease, blue-chip tenant, net lease structure with guaranteed rental growth, prime town centre location, the strong ongoing population growth of the region and the new building gives maximum depreciation benefits.'

The property features a net annual income of $2,115,000 and expressions of interest close on 28 October 2015.

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