The 3,553sqm centre is located on a 1.08ha corner landholding with 195m* frontage to the intersection of Padstow and Warrigal Roads and generates an estimated fully leased net income of $1,560,249 + GST per annum.
Mr Feltoe said opportunities like this are rarely seen in any market.
“This is the kind of asset buyers wait years for,” Mr Feltoe said. “A substantial Brisbane shopping centre with a 3,553sqm building area on a high-profile 10,080sqm corner site, exposed to almost 250,000 vehicles every week, is incredibly hard to replace.”
“With proven tenants already in place and clear rental uplift potential, this is an asset that delivers income today and upside tomorrow. It’s more than a passive investment, it’s long term control of a prime piece of Brisbane retail real estate.”
The asset comprises 30 tenancies across two buildings and is currently 97 per cent leased to national brands including IGA, Chempro, Subway and Australia Post, who are complemented by long-standing specialty tenants including an Asian grocer and a 24/7 fruit market that has traded at the site for more than 40 years, driving consistent day and night traffic.
The property dominates its catchment as the only major shopping centre within a 1.5km radius and has a low 26 per cent site coverage, providing investors with clear future uplift potential and long-term flexibility.
Mr O’Keeffe said the strength of the centre’s trading history and location will underpin strong buyer demand.
“This is a proven convenience-based shopping centre that has been servicing its local community for decades,” Mr O’Keeffe said. “With limited competition, strong traffic flow and 178 car parks, assets like this are tightly held and don’t come to market often.”
Eight Mile Plains Shopping Centre will be offered for sale via Expressions of Interest closing Monday 8 June.
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