Located at 57 Ashmole Road, Redcliffe, the 713sqm* Ashmole Road Shopping Village is fully leased to nine tenants and occupies a prominent 2,280sqm* corner site. The property has a 1.70-year WALE and generates $257,171 + GST in annual net income.
RWC Retail attracted 393 enquiries throughout the campaign, ultimately selling the property to a private Sydney-based investor at a yield of 5.91 per cent.
Mr O’Keeffe said the result underscores growing investor demand for well-located convenience retail centres with strong tenancy profiles.
“Retail centre demand has rebounded significantly over the past 12 months, particularly for assets such as this with a proven trading history and strong lease structures,” Mr O’Keeffe said.
This property ticked all the boxes with its convenience-focused design, large corner land holding, and proven tenant mix.”
Mr Feltoe added that improved lease terms played a key role in securing the result.
“We originally took the asset to auction in late 2022, but it passed in due to market volatility at the time,” he said. “Since then, we’ve seen more landlord-favourable terms achieved across several tenancies, which allowed the incoming purchaser to see value at a higher level.”
This marks the eighth Brisbane retail centre sold by RWC Retail in FY24/25.
