 Asset Class: | Retail |
 Price: | $ 1360000 |
 Net Yield: | 7.21 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<span style="color:rgb(0, 0, 0);">On offer is a multi-tenanted retail centre in the heart of Tamborine Mountain, a renowned Gold Coast Hinterland destination attracting over 2 million visitors annually. Situated on a 923m2* block, the centre has a NLA of 429m2* which is split across 5 established tenancies. It is strategically positioned within walking distance of top tourist attractions, including glow worm and skywalk tours, wineries, and stargazing experiences. Adjoining Eagle Heights Shopping Village, a key retail hub anchored by Foodworks and specialty retailers, the property enjoys high exposure and strong customer traffic.</span><br><br><span style="color:rgb(0, 0, 0);">The building is of solid concrete construction with concrete and stone external walls and underwent extensive rewiring in 2010, providing premium electrical services to all tenants. The centre is anchored by IRIS Imagery, complemented by longstanding food and beverage tenants, including Pippin Took restaurant, a pizzeria, a café, and a pilates studio. IRIS Imagery is finalising a new lease, which will be a condition of settlement, while Pippin Took is also renewing for another term, further enhancing the asset’s stability. </span><br><br><span style="color:rgb(0, 0, 0);">Currently, only IRIS is on a net lease, presenting an opportunity to convert the remaining 4 leases from gross to net over time, increasing future income potential. Additionally, we believe the asset is not being proactively managed so appointing a dedicated property manager post-settlement will likely improve tenant experience and long-term occupancy. We have adopted net income is $98,152* pa + GST, and accounting for all outgoings including management and land tax.</span>
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Mount Tamborine, located 71km* south of Brisbane in the Scenic Rim Region, is a thriving mountain rainforest destination known for its stunning landscapes and booming tourism industry. As part of the Scenic Rim, which boasts a Gross Regional Product of $2.09 billion, Mount Tamborine benefits from a diverse and growing economy supported by 4,738 local businesses and key industries such as healthcare (9.7%), education (8.8%), and agriculture (8.4%). The region's employment base consists of 20,800 jobs, with significant future growth driven by major infrastructure projects, including the Beaudesert Enterprise Precinct and the Bromelton State Development Area, set to create over 15,000 jobs by 2035. Additionally, the $8.4 billion Inland Rail Project will strengthen connectivity and position Bromelton as a key logistics hub. With the Scenic Rim’s population expected to reach 67,000 by 2041, driving demand for 7,609 new jobs and 11,000 dwellings, Mount Tamborine is primed for continued economic and residential expansion, reinforcing its status as a highly attractive investment and lifestyle destination.<br><br><b>Queensland Growth</b><br><span style="color:rgb(0, 0, 0);">Queensland’s $500 billion economy has been supported by continued, strong population growth and a resource boom over the past two decades, exceeding the national average and placing the state in a strong position to exceed growth expectations. In the 12 months leading up to April 2024, QLD has seen a 2.2% growth rate in its retail trade during, resulting in an increase of $137 million in trade turnover. QLD achieved the third-highest population growth rate of 2.6% during the 12 months leading up to June 2023. Regarding employment, for the year ending in April 2024, the QLD growth rate rose again by a further 3.96%, employing over 111,000 individuals.</span>
Additional Location Information FileInitial Term:
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Security Info:
21-23 Southport Avenue, Tamborine Mountain - 429m2 - $228/m2 13-19 Southport Avenue Tamborine Mountain - 1,073m2 - $236m2 (is office so lower cost/sqm) 1-3 Main Western Road, Tamborine Mountain - $400/m2
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Retail centre in a high-growth Gold Coast hub</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Entry level price point with ample future upside </span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Anchored by IRIS Imaging</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Diverse medical and retail tenancy mix, most longstanding tenants</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Zoned: Neighbourhood Centre</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">NLA: 412m2* </span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Land: 923m2*</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Net Income: $98,152 + GST</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">We've accounted for all outgoings incl. Management, insurance and land tax</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Favourable annual CPI reviews</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Ample on-site parking</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Strategic location adjoining Eagle Heights Shopping Village anchored by Foodworks & supported by various specialty retailers </span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Prime position in the Mount Tamborine tourist regions - a popular tourism destination in the Gold Coast Hinterland</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Scenic Rim: strong and dynamic economy with a population projected to increase exponentially to 67,000 by 2041*</span></p></li></ul>
