FIVE exciting retail investment opportunities are heading to auction on the same day. A fully leased shopping centre in Burleigh Heads and four side-by-side individual shops in the same block at Point Lookout (North Stradbroke Island) will go under the hammer.
The Burleigh Heads shopping centre at 5-7 Tallebudgera Creek Road gives the opportunity to invest in a highly desirable precinct with some long-term tenants who have occupied for over 22 years.
The Point Lookout shops at 1-4/15 East Coast Road offers the opportunity to buy one, two, three or four entry-level beachfront retail investments.
The assets are being marketed by Ray White Commercial Queensland’s Investment Sales Michael Feltoe and Ray White Commercial Bayside Director Nathan Moore.
Mr Feltoe said the Burleigh Heads shopping centre was well-known with locals and would appeal to a number of investor types.
“The shopping centre has a complementary tenancy mix of medical, retail and restaurant tenants, including a Subway head office lease,” he said.
“The precinct has an 849sq m* GLA and is on a prominent 2,898sq m* land parcel, presenting investors with a fully leased net income of $236,173 + GST p.a.
“The asset is positioned with direct connectivity to the Caltex service station, providing shared access to 40* car parks and high levels of traffic exposure with 18,500** cars passing daily.
“The Main Trade Area retail expenditure is forecast to experience strong growth of over 4.3 per cent p.a. over the next 13 years, representing an annual spend of $115,100,000 by 3031.***”
Mr Moore said the Point Lookout assets were a terrific opportunity for first-time investors as they are situated in one of Queensland’s most tightly held suburbs.
“Here we have four complementary opportunities comprising an entire ground floor of retail for astute investors to purchase,” he said
“The net incomes range between $38,933 and $63,266 + GST p.a. with guaranteed income growth with four per cent annual increases.
“These lots provide a secure income underpinned by three-month security bonds and personal guarantees with 8-10-year net leases expiring 2021-2023.
“The assets are ideally positioned in the high-traffic tourism precinct of the beautiful Point Lookout on North Straddie and comprise 67-97sqm* lots with al-fresco dining areas.”
The auctions will take place on Friday 07 December 2018, 10:15am at Level 26, 111 Eagle Street, Brisbane City.
A Canning Vale industrial property has been sold to a local investor for $4.1 million. Located at 42-44 Wittenberg Drive, the 4,538sqm property has been leased to Kemp Engineering for the past decade, selling at a 5.85 percent yield.