A cold storage warehouse in North Albury has sold for $1.71 million at an auction held in Sydney on Tuesday morning.
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A lease on the 4,047 square metre block on Carcoola Street is held by PFD Foods, a subsidiary of Woolworths Group.
The lease expires in 2031.
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A Burgess Rawson Sydney spokesman said the warehouse had a floor area of 1,652 square metres and had an "attractive landlord-favourable net lease structure".
"It's guaranteed rental growth with fixed annual rent increases - the net income is $89,333 per annum," the spokesman said.
"PFD Foods pay rates, land tax, building insurance, public liability insurance, management fees and repairs and maintenance."
PFD is one of Australia's largest food service distributors and part of Woolworths' food division.
The spokesman said it was a rare "freestanding cold storage investment".
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