Located at 1646 Anzac Avenue, the 584sqm* centre comprises eight food and beverage tenancies including national brands Nando’s and Baskin-Robbins. The centre sits on a substantial 3,349sqm* landholding with 23 on-site car parks and generates a net income of $394,253 + GST per annum.
The deal was brokered off-market to a Queensland based private investor, who moved quickly to secure the centre following a brief 14-day due diligence period and 30-day settlement.
Agent Pablo Routledge said the result highlights how tightly held well-performing retail centres have become, with buyer demand continuing to outpace the limited number of opportunities currently available.
“Retail centres like this tick all the boxes for investors,” Mr Routledge said. “You have a fully leased food and beverage mix, national tenants, net leases and a substantial landholding with on-site parking, which is exactly what buyers are targeting.”
Managing Director Lachlan O’Keeffe said the sale demonstrates how competitive the market has become for quality retail assets.
“Buyers know they have to act quickly when opportunities like this arise,” Mr O’Keeffe said. “Centres with strong tenant mixes and substantial landholdings across Brisbane are particularly sought after, so it’s no surprise it was snapped up quickly.”
The result reinforces RWC Retail’s ability to achieve premium outcomes for Brisbane retail centres, with investors continuing to compete for assets offering secure income and strong underlying land value.
