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1-7 Mariner Boulevard, DECEPTION BAY QLD, 4508

Sold
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Property Sold in 1-7 Mariner Boulevard, DECEPTION BAY QLD, 4508

Listing ID:
11368013
Status:
Sold
Last Updated:
29/01/2021
Price:
$3,650,000

Property Type

Retail

Land Area

5083 SQM

Floor Area

1098 SQM

Parking

N/A

Shopping Centre With Strong Upside

Significant upside available with this IGA anchored shopping centre in a growth corridor.

There is new energy in the centre with the opening of IGA North Rise.

Current situation:
- Net rent $221,390 P/A (approx 6% return)
- IGA anchored (with lease to 2026 plus 3x5 options)
- 9 tenancies with 3 vacancies which could increase net income by around $100,000 P/A with the right strategy resulting in a yield closer to 8.5%

The cafe/restaurant space is ripe for renovation and comes with dedicated outdoor space which (if beautified) could attract a strong food tenant. The vacant shops could be readily leased with the right incentives.

Deception Bay is in Brisbane's northern growth corridor. Moreton Bay has a thriving population nearing 450,000 people around 35km* from Brisbane CBD. With a new train line nearby and good transport links with the nearby Bruce Highway, D'Agular Highway and the Caboolture and Redcliffe railway lines.

We would be keen to discuss with you how you can do very well with this interesting retail investment.

For more details, please email agent

Ray White Commercial North Coast Central

1, 77 Mooloolaba Esplanade, Mooloolaba, QLD 4557


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