One of Brisbane's most passive retail investments - leased to two global tenants - is being brought to auction with RWC Retail’s Michael Feltoe and Lachlan O’Keeffe.
The freestanding 562sqm property at 100 Tingal Road, Wynnum, is 100 per cent leased to two long-established global brands, Jetts and Pizza Hut, generating a net income of $206,224 + GST.
Mr Feltoe said the combination of secure leases and rental upside makes this one of the most attractive investments currently available.
“Investments do not get much safer than this, as Jetts and Pizza Hut have been operating here for more than a decade (2012 and 2004 respectively) and are continuing to thrive,” he said.
“With their leases extending to 2032 and 2034, and fixed 3 per cent and 3.5 per cent annual growth, this is the definition of a set and forget investment.”
Located 14km east of the Brisbane CBD, Wynnum is a thriving bayside suburb identified as a priority Suburban Renewal Precinct by Brisbane City Council.
The property is positioned directly opposite Wynnum Central train station and surrounded by national retailers including Coles and Woolworths.
Mr O’Keeffe said the combination of location and future upside is hard to beat.
“This site offers peace of mind today with secure income, as well as the chance to unlock even more value in the future,” he said.
“The property's Major Centre zoning allow for development up to eight storeys, giving investors both a secure investment today and redevelopment potential into the future”
100 Tingal Road, Wynnum will be auctioned on Friday 26th September, 9:45am (AEST) at Level 26, 111 Eagle Street, Brisbane City.
