79 George Street, Millicent, SA 5280 | Commercial for sale | OnTheHouse
 
FOR SALE
$2,600,000

79 George Street
Millicent SA 5280

Bedrooms: -
Bathrooms: -
Car spaces: 25
Floor area: 1260m2
Land area: 3499m2
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Prominent Position with Multiple Leases

Positioned along the main street of Millicent with dual street access, 79 George Street offers an expansive commercial opportunity with multiple secure leases and further opportunity to be explored for any motivated investor, with current leases accounting for ~$190,000 per annum inc GST.
Situated on approximately 3499sqm, the main structure with George St frontage offers approx. 1260sqm of mixed retail and commercial use, with well recognised brands both nationally and locally, plus a vacant shop space offering further rental potential not currently realised.
From Railway Terrace at the rear, a renovated 3 bedroom 1 bathroom home provides a stable residential return of $320 per week on a fixed lease, as well as additional access to the off street carparking with room for ~25 vehicles.
The primary lease, being the IGA Supermarket, offers a 10+10+10 fixed lease (commenced in 2020) at $154,000 p/a inc GST + outgoings, with a footprint that could allow for further additions such as a bottle shop, lotto kiosk etc (STCA & licensing).
Subway has a 3+3 fixed lease (commenced in 2024) at $11,000 p/a inc GST + outgoings.
A locally owned salon in the middle shop offers access both from the internal causeway as well as an external access, and has held a long term lease paying $7,800 p/a inc GST.
The vacant shop offers 65sqm of retail space with great exposure and easy access from the rear entrance of the building and carpark, and has benefited from both fixed retail leases and "pop up" use in recent years, with the opportunity to add to strong annual returns.
Recent improvements at the property include a significant $150,000 upgrade to the central air conditioning system, and a large 60kw solar system to assist in utility expenses. The 3 bedroom dwelling has also benefited from an extensive renovation approx. 5 years ago.
A fantastic opportunity to secure a lucrative commercial investment in a regional township that has demonstrated significant growth in recent years and even greater potential for more - contact Alistair today for more information.
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Property Details for 79 George St, Millicent

Building Type
Commercial
Floor Size
1260m2
Land Size
3499m2
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About Millicent 5280

The size of Millicent is approximately 155.6 square kilometres. It has 28 parks covering nearly 0.7% of total area. The population of Millicent in 2016 was 5109 people. By 2021 the population was 5110 showing a population growth of 0.0% in the area during that time. The predominant age group in Millicent is 60-69 years. Households in Millicent are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Millicent work in a labourer occupation.In 2021, 72.40% of the homes in Millicent were owner-occupied compared with 70.10% in 2016.

Millicent has 3,302 properties. Over the last 5 years, Houses in Millicent have seen a 108.53% increase in median value, while Units have seen a 125.54% increase. As at 30 April 2026:

  • The median value for Houses in Millicent is $404,611 while the median value for Units is $402,792.
  • Houses have a median rent of $415 while Units have a median rent of $170.
There are currently 22 properties listed for sale, and 2 properties listed for rent in Millicent on OnTheHouse. According to Cotality's data, 167 properties were sold in the past 12 months in Millicent.

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Alistair Coonan
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Ray White Mt Gambier
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