The fully leased 409sqm centre occupies a high-profile 1,958sqm corner landholding with three-street frontage and exposure to more than 303,800 vehicles every week along Sandgate Road, one of Brisbane’s busiest arterial routes.
Generating a net income of $289,544 + GST per annum, the centre is underpinned by an ultra-passive 6.04-year WALE and fixed 4 per cent annual rental increases across all tenants. Importantly, 59 per cent of the income is secured by a veterinary surgery and dental clinic, two of the most defensive and tightly held retail tenant types in the market today.
Pablo Routledge, Sales Executive at RWC Retail, said opportunities like this are exceptionally hard to replicate.
“Retail positioning does not get better than this,” Mr. Routledge said. “You have a fully leased centre sitting on a major Brisbane intersection with huge traffic exposure, massive convenience appeal and some of the stickiest tenants you can find.”
“When investors talk about set and forget retail investments, this is exactly what they mean. A 6-year WALE, annual rental growth locked in every year and tenants that have been operating here for decades.”
Four of the five tenants have occupied the centre for more than a decade, including Boondall Veterinary Surgery, which has traded from the property since 2001. The centre also benefits from 29 on-site car parks at a generous 1:14sqm parking ratio, supporting strong convenience-based trade.
Michael Feltoe, Partner & Head of QLD at RWC Retail, said the centre offers the type of fundamentals buyers compete hardest for.
“This investment combines everything private investors are chasing right now,” Mr. Feltoe said. “Long-term tenants, fixed rental growth, huge exposure and a substantial corner landholding with future flexibility. These are the types of assets buyers hold onto for decades.”
Positioned 16km from the Brisbane CBD, the property benefits from direct access to the Gateway Motorway, Brisbane Airport and surrounding northern arterial networks, while servicing a densely populated residential catchment anchored by major education infrastructure including Nudgee College.
2270 Sandgate Road, Boondall is being offered for sale via Expressions of Interest closing Tuesday 16th June at 2pm
