National automotive group Autoba
rn has secured a long-term tenancy in a new commercial complex in Armidale.
The company has leased premises at the recently completed complex at 250 Beardy Street, Armidale, in a deal negotiated by Greg Watson and Scott Burgess of Ray White Commercial Robina.
Mr Watson, the Principal of Ray White Commercial Robina, said Autobarn has taken out a 10 x 4 year lease on a 620sq/m showroom which has been developed by Burkall Investments Pty Ltd.
“Burkall purchased the undeveloped site in a prime position in Beardy St in Armidale’s retail and commercial precinct,” he said.
“Autobarn are due to begin operations before the end of the year.”
Scott Burgess, the CEO of Ray White Commercial Robina, said Burkall Investments was preparing to put the Beardy St complex on the market with an asking price of approximately $2.25 million.
“In light of our leasing success for the property, Burkall have agreed to appoint Ray White Robina Commercial to sell the property.
We are expecting strong interest in the complex when it hits the market, given the blue chip tenant in place.”
When fully leased, the centre will have a combined net rental estimated to be approximately $171,800 per annum.
