 Asset Class: | Retail |
 Price: | $ 18500000 |
 Net Yield: | 6.69 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
<span style="color:rgb(0, 0, 0);">On offer is RedEdge Redland Bay, a modern two-level convenience shopping centre delivering exceptional income diversity and long-term security. Anchored by national operators IGA and BWS—both in place since the centre’s inception in 2008—the asset is supported by a resilient mix of 25+ tenants, with over 75% of income derived from essential services including healthcare, groceries, pharmacy, and fitness. Positioned on a high-exposure 5,171m2* corner site with dual street frontage, the centre comprises 2,685m2* of NLA and 123 car parks (including basement), occupying a dominant position in the local catchment with no comparable competition nearby, which is testament to the longevity of its tenants.</span><br><br><span style="color:rgb(0, 0, 0);">Strategically located just 40km south-east of Brisbane’s CBD, Redland Bay lies within the bayside Redland City Council, a rapidly growing corridor with a population of 170,000* and a regional GDP exceeding $7 billion. The area continues to benefit from sustained residential growth, infrastructure upgrades, and strong demand for medical and retail services—driving long-term leasing demand and population-driven foot traffic.</span><br><br><span style="color:rgb(0, 0, 0);">The centre features a high-quality tenant profile across allied health, fitness, food, and convenience retail. Key occupiers include IGA (20-year lease to 2033 + 2x5-year options), BWS, Jetts Fitness, Rededge Medical Centre, City Cave Wellness, and Bayside Community Pharmacy. The asset offers a 5.2-year WALE, with most leases on net terms and benefiting from full outgoing recoveries and annual CPI or fixed rent reviews. Two vacancies are supported by 12-month rental guarantees at market rent, providing income continuity while allowing time to secure additional tenants. The property delivers a net income of $1,238,215* pa, including supplementary revenue from 84 rooftop solar panels, and is zoned Neighbourhood Centre, offering future flexibility and possible development potential.</span><br><br><span style="color:rgb(0, 0, 0);">In all, RedEdge is a standout investment backed by long-standing national anchors, a dominant local presence, and strong income diversity. It is primed to deliver secure, inflation-protected returns in one of the most tightly held and high-growth suburban markets in QLD.</span>
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<span style="color:rgb(0, 0, 0);">Redland Bay is a thriving bayside suburb within Redland City, located 40km south-east of Brisbane’s CBD. As part of Brisbane’s Bayside growth corridor, it offers a relaxed waterfront lifestyle while maintaining strong connectivity to Brisbane and the Gold Coast via Cleveland-Redland Bay Road and regular public transport links. The suburb is known for its stunning coastal views, access to Moreton Bay, and affluent residential market, with a median house price exceeding the Queensland average by $30,000+. Redland Bay has experienced rapid growth, with its population increasing at an average rate of 3.5% per annum over the past decade, nearly twice the QLD average. This strong demand attracts families, retirees, and professionals seeking a balance between lifestyle and convenience.</span><br><br><span style="color:rgb(0, 0, 0);">As of June 2023, Redland City’s economy is valued at $7.38 billion, contributing 1.58% of QLD's economy, with a population of 166,809 and 47,823 local jobs, predominantly in health care and social assistance. The region generates $16.33 billion in economic output and is home to 12,559 businesses, reflecting a diverse and thriving commercial landscape. The suburb’s expanding economy is supported by key industries such as retail, tourism, healthcare, and essential services. Redland Bay features a well-developed marina with ferry access to Moreton Bay islands, extensive parks, walking trails, and growing commercial precincts. Significant infrastructure upgrades are underway, including road network improvements to reduce congestion and improve access, alongside investments in parks, recreational facilities, and community centres to accommodate its expanding population.</span><br><br><span style="color:rgb(0, 0, 0);">With strong population growth, increasing infrastructure investment, and a diverse local economy, Redland Bay continues to emerge as a key growth region in South-East Queensland, offering long-term opportunities for residents, businesses, and investors alike.</span><br><br><span style="color:rgb(0, 0, 0);"><b>Queensland Growth</b></span><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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<ol style="list-style-type:decimal;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Jetts have expressed strong interest in expanding into the upcoming vacancies. Should this not be formalised prior to, these two lots will come with 12-month rental guarantees to be paid out at settlement ($58k).</span></p></li><li style="list-style-image:none;color:rgb(0, 0, 0);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Scheduled rental increases in July 2025 will see the net income rise to $1,252,000 (6.76% net yield), with a further uplift to $1,258,000 (6.80% net yield) anticipated by September 2025.</span></p></li></ol>
Additional Financial Information FileInitial Term:
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30-32 Cypress Street, Redland Bay – 2,685m2 - $465/m2 318 Wardell Street, Enoggera – 806m2 - $468/m2 (2024 data) 338 Waterworks Road, Ashgrove – 785m2 - $458/m2 (2024 data) 2-12 Carl Heck Boulevard, Windaroo – 1,593m2 - $424/m2 (2023 data) *more to come
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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:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Modern two-level convenience centre, built in 2008</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Anchored by IGA and BWS, both in occupation since inception</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Located in Brisbane’s Bayside growth corridor, just 40km* from the CBD</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">25+ tenants across essential services, retail, and medical</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">High exposure corner site with dual street frontage</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Zoned: Neighbourhood Centre</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Land: 5,171m2*</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">NLA: 2,685m2* </span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Net income: $1,238,215* pa</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">5.2-year WALE across strong tenant covenants</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Over 75% of income from non-discretionary uses (grocery, health, pharmacy, fitness)</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Net lease structure with outgoing recoveries</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">CPI and fixed annual increases up to 4% across most leases</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">2 vacancies with 12-month rental guarantees</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">123 on-grade and basement car parks</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">84-panel rooftop solar array, delivering supplementary income</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Dominant local hub – no comparable centre in the immediate catchment</span></p></li></ul><span style="color:rgb(0, 0, 0);font-weight:normal;">Located in a $7bn+ economy with a population of 170,000+</span><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">7 medical tenants: Medical Centre, Pharmacy, Dentist, Pathology, Podiatrist, and Chiropractor colonoscopist</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">IGA, BWS, Fish depot, Platinum Thai, Jetts and the pharmacy all here since 2008</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">Dentist: 20-year lease, options to 2043</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">City Cave: 10+10+10-year lease to 2052</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">BWS: 9-year lease with 3x5-year options to 2040</span></p></li><li style="list-style-image:none;color:rgba(0, 0, 0, 1);"><p style="display:inline;"><span style="color:rgb(0, 0, 0);font-weight:normal;font-style:normal;">3 allied health tenants</span></p></li></ul>
