![]() Asset Class: | Retail |
![]() Price: | $ 6020000 |
![]() Net Yield: | 6.76 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | Off Market |
<p class="mb-4">On offer is a fully leased convenience retail investment in one of Townsville’s most densely populated suburbs, delivering strong yield performance, long-term income security, and exceptional tenant retention underpinned by 6 national occupiers.</p><p class="mb-4">Located at 109 Thuringowa Drive, Kirwan, the centre is strategically positioned in Townsville's largest residential catchment with outstanding exposure to over 30,000 vehicles daily. Occupying a prominent 3,630m2* corner site at the intersection of Thuringowa Drive and Charles Street, the property enjoys excellent visibility and accessibility—directly opposite the Queensland Government Health Campus and within walking distance of both Kirwan State High School and Kirwan Primary School.</p><p class="mb-4">Constructed in 2008, the centre comprises a 992m2* NLA across 8 inline tenancies and a detached drive-thru occupied by Star Liquor, for a total of 9 tenancies. The site offers 50 on-site car spaces and is zoned ‘Local Centre’. The tenancy profile includes nationally recognised brands such as Pizza Hut, Subway, and Night Owl—all of whom have remained in place since the centre’s inception—alongside Star Liquor, Burrito Bar, Getta Burger, Sip & Berry Acai, and a tobacconist, contributing to a diverse and resilient income stream.</p><p class="mb-4">The property generates a net income of $407,036* pa, and has a current WALE of 2.3 years, due to become 3.4 years pending Night Owl’s option renewal, which is currently in progress. All leases include a mix of fixed and CPI-linked annual increases, offering predictable, yet stable rental growth. Overall, this is a solid set-and-forget investment supported by strong lease structures, with minimal maintenance requirements, and a complimentary tenant mix in one of Townsville’s most high-traffic retail precincts.</p>
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<p class="mb-4">Kirwan is one of Townsville’s largest and most established residential suburbs, home to over 21,000 residents and located just 11km southwest of the CBD. Positioned within Townsville’s largest residential catchment, the area benefits from major infrastructure, education, and healthcare services, including the Riverway Precinct, 1300SMILES Stadium, and the Queensland Government Health Campus—directly opposite the subject site. The property enjoys prominent exposure at the corner of Thuringowa Drive and Charles Street, with over 30,000 vehicles passing daily and is within walking distance of both Kirwan State High School and Kirwan Primary School. <br><br>Townsville has a population of over 200,000 and a Gross Regional Product of $15.11 billion, contributing 3.24% to Queensland’s economy. The city boasts a strong and diverse employment base with over 109,000 people employed and a low unemployment rate of 3.7% as of June 2024. Key industries include healthcare, education, manufacturing, retail, defense, and tourism—with tourism alone contributing nearly $1 billion to the economy and supporting close to 9,000 jobs. Townsville is also home to one of Australia’s largest military bases and the third-largest seaport in Queensland, facilitating $8 billion in trade annually. Backed by significant infrastructure and renewable energy investment, Townsville is firmly positioned as a dynamic growth hub for northern Australia.</p>
Additional Location Information File<p class="mb-4"><strong>Subway</strong><br>Subway is one of the world’s largest quick-service restaurant brands, offering made-to-order sandwiches and salads. It operates over 37,000 stores globally, with more than 1,200 locations across Australia.<br><br><strong>Pizza Hut</strong><br>Pizza Hut is a leading global pizza franchise and a subsidiary of Yum! Brands, which also owns KFC and Taco Bell. With over 270 stores across Australia, Pizza Hut has undergone a recent resurgence driven by menu innovation, digital ordering, and delivery partnerships. It is a well-established brand in the Australian fast-food market, with a stable franchise model and broad national presence, making it a secure and recognisable tenant across retail and convenience locations.<br><br><strong>Star Liquor</strong><br>Star Liquor is a rapidly growing liquor retail chain with over 100 stores across QLD and NSW. The business operates under Star Liquor Warehouse, Star Liquor Express, and Cellarbrations banners, and is part of the larger Star Hotels Group. Known for competitive pricing and strong regional placement.</p><p class="mb-4"></p><p class="mb-4"><strong>Getta Burger</strong></p><p class="mb-4">Getta Burger is a QLD-based gourmet burger chain that has grown steadily since launching in 2014. The brand is known for its premium burgers, American-style offerings, and strong local following. Typically positioned in strip retail or lifestyle precincts, Getta Burger offers a niche but resilient covenant backed by growing brand recognition and consistent trade in suburban markets.<br><br><strong>Noodle Box</strong><br>Noodle Box is a prominent Australian-owned fast-casual restaurant chain specialising in wok-cooked Asian street food, with more than 60 locations nationally. Often franchise-operated, Noodle Box locations appeal to diverse demographics and trade well in convenience centres and retail strips.<br><br><strong>NightOwl</strong><br>NightOwl is a well-established national convenience store chain with over 70 locations across Australia, predominantly in QLD. Trading since 1975, the brand operates 24/7 formats in key urban, suburban, and coastal catchments, offering everyday essentials, groceries, and grab-and-go items. NightOwl is known for its consistent trade volumes, and long-term tenancy in high-exposure retail locations.<br><br><strong>Burrito Bar</strong><br>Established in 2011, Burrito Bar is an Australian-owned Mexican restaurant chain offering a diverse menu. The brand has experienced significant growth, operating 44 locations across QLD, NSW, VIC, ACT and NT. Burrito Bar has expanded its portfolio to include complementary brands such as Smokin Burgers n’ Ribs and Sweet Republick, allowing franchise partners to operate multiple concepts within a single location.</p>
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<p class="mb-4">109 Thuringowa Drive, Kirwan - 992m2 - $410/m2</p><p class="mb-4"></p><p class="mb-4"><u>*More coming please allow 24 hours. Stock like this in Townsville is rare to come by and most sites of this size aren't national tenants. We are aware rents are at market.</u></p>
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<ul class="bullet-list"><li><p class="mb-4">Fully leased retail investment with 9 tenancies, including 6 national anchors</p></li><li><p class="mb-4">Modern retail strip constructed in 2008 with minimal maintenance required</p></li><li><p class="mb-4">Long-standing tenants in place, anchors here since inception</p></li><li><p class="mb-4">Zoned: Local Centre</p></li><li><p class="mb-4">NLA: 992m2* </p></li><li><p class="mb-4">Land: 3,630m2* corner site</p></li><li><p class="mb-4">Net income: $407,036* pa</p></li><li><p class="mb-4">Strong tenancy mix across food, beverage, and daily convenience sectors</p></li><li><p class="mb-4">Strong tenant retention with Nightowl, Subway and Pizza Hut here since inception (2008)</p></li><li><p class="mb-4">Detached drive-thru tenancy occupied by Star Liquor</p></li><li><p class="mb-4">WALE of 2.3 years (extending to 3.41 years pending Night Owl renewal)</p></li><li><p class="mb-4">All leases feature fixed or CPI-linked annual increases, ensuring consistent rental growth</p></li><li><p class="mb-4">Exposure to 30,000+ vehicles daily at Thuringowa Drive and Charles Street</p></li><li><p class="mb-4">Positioned opposite QLD Government Health Campus and near two major schools</p></li><li><p class="mb-4">Surrounded by dense residential catchments ensuring strong and consistent foot traffic</p></li></ul>