Six main street properties owned by Bruce Bolam have come on to the market this week with a combined sale price of a cool $15,970,000.

The properties include the buildings that house Aboriginal Employment Strategy, Harris Scarfe and everything in between, as well as one lower Macquarie Street location, but existing tenancies will not be disrupted.

Selling agent and Raine and Horne commercial and industrial director Grahame Allan says the offering is the largest he has ever had in his 32 years in real estate.

Mr Bolam has put his Dubbo properties on the market to concentrate on interests in his home town, and has already offloaded an Orange property, Mr Allan said.

He ruled out the global financial crisis and Dubbo City Council’s draft local environment plan, which lifts restrictions on the growth of Orana Mall, as factors that influenced his client’s decision.

“Mr Bolam has and always will have a high regard for Dubbo as a regional centre to invest in,” he said.

The Macquarie Mall, 155 Macquarie Street, has the highest asking price of $4,675,000.

The 2231-square metre property has five tenants, including Dick Smith, $2 Plus, MBF, Dollars and Sense and NSW Family Planning.

Leases would transfer from one owner to another, Mr Allan said.

“There are leases in place on all properties - a couple are expiring but we are renegotiating leases on those properties,” he said.

The properties would tempt local, regional and metropolitan investors, Mr Allan said.

“We’re offering property yields of between 8 and 8.5 per cent,” he said.

The buyer does not expect the properties to go in one lot.

“It’s a process, he understands this portfolio is quite large and will take some time to sell on the open market,” Mr Allan said.

Negotiations are already taking place on a number of the properties but if it took one or two years for the deed to be done, it would not “faze” the vendor.

Located in the “strongest retail strip in Dubbo”, Mr Allan’s message for potential buyers is to invest, sit back and collect the rent.

faye.wheeler@ruralpress.com