The supermarket, on a 3,845sqm holding, was bought by a private investor following a public auction in Melbourne.

The selling agents, Melbourne-based Gross Waddell, said the supermarket had one of Australia’s best known retailers Bi-Lo (Coles Group) as a long term tenant which provides security to the investor, currently paying rental of $430,000 per annum.

The 1976 sqm freestanding supermarket and 90 bay onsite car park is leased until November, 2019, by Bi-Lo Pty Ltd with an option for another two 10-year terms.

Ray White Invest CEO Dan White said the Eden supermarket site had been held by a syndicate including the White family since 2005, having been originally purchased on a pre-leased basis as a greenfield site.