Two centres, located in Jindalee (Brisbane) and Mossman (Cairns), are being auctioned on Friday 21st November as part of RWC's National Auction Showcase event with agents Lachlan O’Keeffe and Michael Feltoe.
Mr O’Keeffe said, “These are the kind of assets retail investors chase, but rarely find. Both offer stability, substantial land holdings and strong income profiles. We have had investors telling us for months they are on the hunt for these kinds of centres to purchase, and to them I say - make sure you are in the auction room.”
The Jindalee centre, located at 66-76 Curragundi Road, sits on a 3,955sqm* landholding 11km* west of the Brisbane CBD.
The 1,478sqm* centre is fully leased, returning a Net Income of $361,288 + GST per annum, and has been anchored by Foodworks grocer for over 20 years. The centre has been designed with everyday convenience in mind, offering 36 on-site car parks plus an additional 10 street parks directly in front of the centre.
The Mossman centre at 63-71 Front Street (Captain Cook Highway) occupies a 9,828sqm* site with 125 car parks, and is co-located with a Woolworths shopping centre. The high-yielding centre generates a Net Income of $562,336 + GST per annum with 100 per cent of income underpinned by national & essential service tenants.
Mr Feltoe said, “These investments tick every box that retail investors could hope for. They’re well located, play an essential daily role in their community, and both are passive investments that allow the incoming purchasers to benefit from the strong returns.”
Also for sale is an entry-level retail investment in Brisbane’s bayside suburb of Alexandra Hills. Located on the corner of Finucane Road & Allenby Road, the property is leased to a Thai Cafe & Restaurant, and returns a Net Income of $50,644 + GST per annum presenting the chance for the incoming purchaser to make significant rental uplift gains.
