42 Morilla StreetLightning Ridge NSW 2834
Property Details for 42 Morilla St, Lightning Ridge
Last Listing description (November 2025)
Raine & Horne Commercial Dubbo is delighted to offer 42 Morilla Street, Lightning Ridge for sale by way of Public Auction in our National Auction Event.
An exceptional freehold commercial asset in the heart of Lightning Ridge CBD, securely leased to Westpac - one of Australia's top 5 ASX-listed banks with a market capitalisation of $108.2 billion. This substantial 1,011sqm* property boasts 20m* prime Morilla Street frontage, positioned alongside Australia Post and close to IGA Plus Liquor, ensuring high pedestrian and vehicle visibility. A brand-new 5-year net lease commenced January 2025, with fixed 3% annual increases and further options through to 2039. Westpac has maintained a strong banking presence here for over 20 years, including valuable safety deposit box facilities. Net income of $84,500* p.a. + GST with the tenant paying 100% of standard outgoings provides a low-maintenance, blue-chip investment with excellent long-term security. Located in a globally recognised opal mining hub, the property benefits from strong tourism, local economic resilience, and strategic growth projects including a $20M Australian Opal Centre and $2.6M water security upgrade.
Key Investment Highlights
• New lease: 5 years from Jan 2025, options to 2039.
• Built-in rental growth: Fixed 3% annual increases.
• Attractive net income: $87,035* p.a. + GST, tenant pays 100% of standard outgoings.
• Prime CBD position: 1,011sqm* site with 20m frontage on main commercial thoroughfare.
• Long-standing banking presence: Over 20 years in this location.
• High-visibility location: Next to Australia Post, near IGA Plus.
• Growing regional hub: Lightning Ridge - world-famous for black opal, strong tourism & economic growth.
• Major infrastructure investment: $20M Australian Opal Centre & $2.6M Water Security Project.
To be sold at Public Auction - Auctionworks, 50 Margaret Street, Sydney at the Raine & Horne Commercial National Portfolio Auction on 27 November 2025.
Contact the exclusive agents Simon Scholes (0474 783 951) or Joe Burgun (0418 649 871) at Raine & Horne Commercial Dubbo today to request further information.
*Approx.
Property History for 42 Morilla St, Lightning Ridge, NSW 2834
- 06 Nov 2025Sold
- 15 Aug 2025Listed for Sale Auction
- 17 Sep 2020Sold for $1,230,000
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0About Lightning Ridge 2834
The size of Lightning Ridge is approximately 2139.2 square kilometres. It has 3 parks covering nearly 0.7% of total area. The population of Lightning Ridge in 2016 was 2284 people. By 2021 the population was 1946 showing a population decline of 14.8% in the area during that time. The predominant age group in Lightning Ridge is 60-69 years. Households in Lightning Ridge are primarily childless couples and are likely to be repaying $600 - $799 per month on mortgage repayments. In general, people in Lightning Ridge work in a community and personal service occupation.In 2021, 62.10% of the homes in Lightning Ridge were owner-occupied compared with 55.20% in 2016.
Lightning Ridge has 1,796 properties. Over the last 5 years, Houses in Lightning Ridge have seen a 64.15% increase in median value, while Units have seen a 28.26% increase. As at 31 October 2025:
- The median value for Houses in Lightning Ridge is $187,985 while the median value for Units is $43,398.
- Houses have a median rent of $300.
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