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Target building under the hammer

The Tumut Target building

One of Tumut’s major retail buildings, housing the Target Country store, is set to go under the hammer.

The 1500 square metre Sylvia Place building is set for auction in Sydney on May 14.

The building is occupied by Target, which recently signed a new three plus three year lease on the premises.

While some Target stores are slated for closure, the realtor noted that Tumut’s store recorded sales growth of 7.4 per cent over the past four months.

The building is just over 10 years old.

Burgess, Rawson and Associates are handling the sale and have estimated the net rent at $229,755 per annum, with set annual increases of three per cent.

The land, which includes 50 car park spaces, totals more than 4030 square metres.

The building will go under the hammer on May 14 at Dolstone House, Hyde Park.