A strong performing off-market retail centre investment opportunity with the development and value-add potential.
This Nambour Central Retail Complex features 2,544m2 of net lettable area situated atop of 6,728m2 of major centre-zoned land on the Sunshine Coast Region. This dual street frontage site is conveniently positioned just 250 metres from the Nambour train station and it comes with 120 on-grade car parking spaces.
Nambour Central complex is anchored by ANZ, Commonwealth Bank, Pets Domain, Sunshine Coast Radiology and F45 gym and it is currently returning a net income of $601,250* per year. The occupancy rate in the building is 73% and with four tenancies are vacant, the property has the potential to return a net income of $888,861* which equates to 9.6% in net yield.
Currently more than 98% of the income is generated by the national tenants. These are the testament to the property's 3.9-year WALE (by GLA). Also, the leases are supported by either 4% or CPI annual increases.
report, bank fees)
Purchasing Costs
Key Highlights
• 6,728m2 Total Land Area
• Site usage 37.8% – Development Potential
• Major Centre Zoned Freehold Land
• Strong Exposure – Dual Street frontage within town centre and 250m from the train station
• 120 on grade car spaces from two entrances
• Net Income: $601,250*pa• Occupancy: 73.8%
• Potential Net income: $888,861* (when fully leased)
• Combination of 4% and CPI increases• Ample depreciation benefits for its investor due to recent refurbishments
• 98% of the income secured by national chains including ANZ, Commonwealth Bank, Pets Domain & Sunshine Coast Radiology
• WALE of 3.9 Years by GLA
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