A land-rich supermarket investment occupied by an IGA Supermarket + Liquor and offering major upside is on the market.
Fitzroys’ Chris Kombi, Chris James and Ben Liu are marketing 90-94 Lower Plenty Road, Rosanna on behalf of a private vendor. The property has been owned within the same family for 40 years.
A price of $3 million-plus is expected.
The property comprises a substantial 540sqm building with loading dock, on a significant Commercial 1-zoned landholding of 737sqm with rear access, an expansive street frontage of 16.4m, and on-site parking for up to 7 cars.
The property has a 5+5-year lease from November 2022 and has been operating as a supermarket for over 60 years, and also features a licensed Tattslotto outlet, located within the supermarket checkout area.
“We’re expecting interest from land banking investors, future owner occupiers and developers,” Kombi said.
“This property presents immediate performance and long-term potential. The generous land proportions and favourable Commercial 1 zoning offer strong future redevelopment potential (STCA) - buyers can secure a solid income stream from a high-quality, strong-trading tenant and assess their options for the future in a popular and growing location.”
In a high-profile position within the popular Rosanna Village shopping precinct, the property is surrounded by major tenants including Chemist Warehouse, Australia Post, Bakers Delight and Jetts Fitness, as well as popular cafés, medical clinics, pharmacies, takeaway outlets, and specialty retailers.
It is also metres from a number of recently completed high-density residential developments.
“The local high-density development has really led to a significant increase in the local population supporting the Rosanna Village traders,” James said.
“We’ve seen a steady rise in residential development and property values in the area, with an increasing number of young families and professionals drawn to its blend of lifestyle and location. More medium-density housing projects are emerging and Rosanna’s population growth continues to underpin retail demand and long-term rental uplift.”
“The IGA supermarket really stands as a local favourite and community staple and has benefited further from the boost in catchment.”
Liu said the area is exceptionally well-connected with Rosanna train station a short walk away, providing access along the Hurstbridge line and a direct route to the Melbourne CBD, as well as multiple bus routes, safe pedestrian infrastructure and ample public parking enhancing accessibility and supporting frequent visitation.
Rosanna is further supported by premier local amenities including Rosanna Primary School, Viewbank College and major medical hubs such as Austin Hospital and Warringal Private Hospital, he noted.