 Asset Class: | Retail |
 Price: | $ 4350000 |
 Net Yield: | 6.60 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
<span style="color:rgb(0, 0, 0);">This property presents an excellent opportunity to capitalise on the growing</span><span style="color:rgb(0, 0, 0);background-color:rgb(255, 255, 255);"> Brisbane Northern Corridor.</span><br><br><p style="background-color:rgb(255, 255, 255);"><span style="color:rgb(0, 0, 0);">A freehold, retail convenience centre, with a corner location, a strong mix of convenience and service-based tenants, with rents below other comparable centres and 500 </span><span style="color:rgb(0, 0, 0);background-color:rgb(255, 255, 255);">metres to the NRL Dolphins team stadium.</span></p><br><p style="background-color:rgb(255, 255, 255);"><span style="color:rgb(0, 0, 0);">The property has been self-managed and would significantly benefit from a professional manager, who will work to improve the tidyness of the centre, tenancy mix (e.g. target</span><span style="color:rgb(0, 0, 0);background-color:rgb(255, 255, 255);"> more medical related tenants) and therefore, improve rents.</span></p><br><p style="background-color:rgb(255, 255, 255);"><span style="color:rgb(0, 0, 0);">We see strong rental growth in this property over the short to medium term, and therefore, capital growth, particularly as the population in the surrounding </span><span style="color:rgb(0, 0, 0);background-color:rgb(255, 255, 255);">area grows.</span></p><br><p style="background-color:rgb(255, 255, 255);"><span style="color:rgb(0, 0, 0);">We look</span><span style="color:rgb(0, 0, 0);background-color:rgb(255, 255, 255);"> forward to securing this opportunity for you.</span></p>
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The property is located in the heart of Redcliffe, 26km* north of the Brisbane CBD.<br><br>The property is just 500m* from the home of Australia's newest NRL club - The Dolphins - with their 10,000 seat stadium set to host multiple NRL and A-League matches, and likely 2032 Olympic events.<br><br>The property is located in the Moreton Bay region, which offers a thriving commercial property market with diverse opportunities for businesses. Spanning across approximately 2,037 square kms, the region<br>encompasses a range of vibrant coastal and inland communities, including the cities of Brisbane, Redcliffe, and Caboolture, which present unique advantages for commercial ventures. <br><br>Brisbane, as the capital of Queensland, serves as the economic and business hub of the region. The city offers a wide range of commercial property options, including office spaces, retail premises, and industrial facilities. Brisbane’s CBD is a bustling commercial centre, attracting a variety of industries, such as finance, technology, professional services, and creative sectors. It provides excellent transport links and access to amenities, making it an ideal location for businesses seeking a central and convenient base.<br><br><br>Redcliffe, located on a peninsula north of Brisbane, presents a distinct coastal commercial property market. With its beautiful foreshore and relaxed atmosphere, Redcliffe offers opportunities for beachfront cafes, restaurants, and boutique retail outlets. Its proximity to Brisbane and the growing residential population make it an attractive destination for businesses looking to capitalize on the region's tourism and local customer base.<br><br><b>The Moreton Bay (Northern Brisbane Growth Corridor) Growth Story</b><br><br>The Moreton Bay Region is anticipated to undergo significant population growth in the coming years, with an increase of 64% from 2021-2046 compared to the Brisbane Region growing by 26% over the same period.<br><br>Furthermore, Moreton Bay’s Gross Regional Product was $19.9b in the year ending June 2022, growing 4% from the previous financial period.<br><br>This transformational level of population growth will inevitably translate to strong demand for local business and therefore the Gross Regional Product of Moreton Bay, underpinning demand for physical space and providing strong economic foundations for tenants to thrive.
Additional Location Information FileLetter M - Cafe and Coffee Shop<br> <br>The Hair People - hairdresser<br> <br>Convenience Store<br> <br>Thai Restaurant (Peemai Thai) - a very busy and popular Thair restaurant <a style="color:rgb(51, 51, 51);display:inline;" target="_blank" href="https://www.peemaithai.com.au/"><u>https://www.peemaithai.com.au/</u></a><span></span><br> <br>Manches Gone Mad - lolly shop<br> <br>Lek's Asian Food - Asian convenience store<br> <br>Beauty & Massage<br> <br>Skin Cancer Clinic - owned and run by a Doctor.<br> <br>Pacific Island Clothing - charity clothing bin located in the front right hand side of the property.<br><br>
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Additional Financial Information FileInitial Term:
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Subject property: 57 Ashmole Road, Redcliffe – 713sqm - $403/sqm net 318 Wardell Street, Enoggera – 656sqm - $559/sqm net 18-22 Kremzow Road, Brendale – 850sqm specialties only) - $502/sqm net 191 Waller Drive, Regents Park – 902sqm - $476/sqm net 110 Mountain View Ave, Miami – 1,686sqm - $411/sqm net Subject to valuation and further due diligence
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<span style="color:rgb(23, 30, 26);"><b>WHAT</b></span><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">Ashmole Road Shopping Village is a fully leased convenience shopping centre including a complementary mix of daily needs tenants including a Convenience Store, Skin Cancer Clinic, Asian Grocer, Coffee </span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;font-weight:normal;font-style:normal;">Shop and Thai Restaurant</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">713sqm of Net Lettable Area*</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">2,280sqm corner site*</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">23 on-site parks* (1:31 ratio) in addition </span><span style="color:rgb(23, 30, 26);margin-inline-start:36pt;font-weight:normal;font-style:normal;">to ample on-street parking</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);font-weight:bold;"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-style:normal;"><b>Fully Leased Net </b></span><span style="color:rgb(23, 30, 26);margin-inline-start:36pt;font-style:normal;"><b>Income of $287,197 + GST p.a. ($403/sqm net)* after mgmt. fees</b></span></p></li></ul><br><span style="color:rgb(23, 30, 26);"><b>WHERE</b></span><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">Situated in the heart of Redcliffe, 26km* </span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;font-weight:normal;font-style:normal;">North of the Brisbane CBD</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">Just 500m* from the home of Australia's newest NRL club - The Dolphins - with their 10,000 capacity stadium set to host </span><span style="color:rgb(23, 30, 26);margin-inline-start:36pt;font-weight:normal;font-style:normal;">multiple NRL and A-League matches</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">Serviced by the Redcliffe Peninsula Train </span><span style="color:rgb(23, 30, 26);margin-inline-start:36pt;font-weight:normal;font-style:normal;">Line, with the Kippa-Ring Station less than 1.5km* away</span></p></li></ul><br><span style="color:rgb(23, 30, 26);"><b>WHY</b></span><br><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(23, 30, 26);font-weight:normal;font-style:normal;">The ultimate convenience centre, with all </span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;font-weight:normal;font-style:normal;">tenants enjoying car-park frontage and ease of on-foot access</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">Defensive mix of tenants-convenience and service based</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">All rental reviews are 4% ensuring strong </span><span style="color:rgb(23, 30, 26);margin-inline-start:36pt;font-weight:normal;font-style:normal;">rental growth</span></p></li><li style="list-style-image:none;color:rgb(23, 30, 26);"><p style="display:inline;"><span style="color:rgb(23, 30, 26);font-weight:normal;font-style:normal;">The Moreton Bay Region is one of the fastest growing LGA's in Australia, with population tipped to grow by over 42% </span><span style="color:rgb(23, 30, 26);margin-inline-start:36pt;font-weight:normal;font-style:normal;">to 2041.</span></p></li></ul><br><br><span style="color:rgb(214, 201, 173);"><b>What we like about this property:</b></span><br><br><span style="color:rgb(23, 30, 26);">· Freehold</span><br><br><span style="color:rgb(23, 30, 26);">· Large corner site</span><br><br><span style="color:rgb(23, 30, 26);">· Ample car parking with two driveway entry/exit </span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;">points</span><br><br><span style="color:rgb(23, 30, 26);">· Busy retail convenience centre with a complimentary mix of service tenants (Skin Cancer Clinic, Hairdresser, Beauty and Massage), café/restaurant tenants (Letter M Café, Thai Restaurant) and </span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;">retail shops (Convenience Shop, Asian Market, Lolly Shop).</span><br><br><span style="color:rgb(23, 30, 26);">·Diversity of income - multi tenanted (8</span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;">tenants)</span><br><br><span style="color:rgb(23, 30, 26);">· Strong yield for Brisbane retail</span><br><br><span style="color:rgb(23, 30, 26);">· Strong WALE</span><br><br><span style="color:rgb(23, 30, 26);">· Strong 4% per annum rent reviews</span><br><br><span style="color:rgb(214, 201, 173);"><b>Value Add Ideas:</b></span><br><br><span style="color:rgb(23, 30, 26);">· Increase rents with upcoming market rent reviews and fixed reviews, </span><span style="color:rgb(23, 30, 26);"><b>estimated potential value uplift of approx. $930,000 within</b></span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;"><b>the next 2-3 years </b></span><sup style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;display:inline;"><b>#.</b></sup><br><br><span style="color:rgb(23, 30, 26);">· Medical tenant re-mix at higher rents (e.g. target a GP and Pharmacy to take over the leases of shop 7, 8 and 9 on current tenant lease expiries, to support the Skin Cancer Clinic in shop 10 and 11,</span><br><span style="color:rgb(23, 30, 26);">where medical market rents are around $580/sqm net vs passing net passing rents at an average of $388/sqm net) – </span><span style="color:rgb(23, 30, 26);"><b>estimated potential additional value uplift of approx. $350,000 assuming $580/sqm net rent for medical tenants at 6.25% net </b></span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;"><b>yield.</b></span><br><br><span style="color:rgb(23, 30, 26);">· Solar – get tenant owned solar panels onto a roof lease - </span><span style="color:rgb(23, 30, 26);"><b>estimated potential value uplift of approx. $75,000 assuming</b></span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;"><b>$5,000 net rent p.a. at purchase yield.</b></span><br><br><span style="color:rgb(23, 30, 26);">· Digital billboard – investigate the</span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;">potential</span><br><br><span style="color:rgb(23, 30, 26);">· Cosmetic upgrades (e.g. improve signage</span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;">)</span><br><br><span style="color:rgb(23, 30, 26);">· Create an additional tenancy by expanding</span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;">into the car park^</span><br><br><span style="color:rgb(23, 30, 26);">· Development potential (e.g. add additional levels, or long term redevelop the site into mixed use: residential and commercial</span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;">tower^)</span><br><br><br><span style="color:rgb(23, 30, 26);">· </span><span style="color:rgb(23, 30, 26);"><b>TOTAL OF ESTIMATED POTENTIAL VALUE ADD IDEAS - $1,355,000 (from $4,350,000 to $5,705,000) plus development </b></span><span style="color:rgb(23, 30, 26);margin-inline-start:35.7pt;"><b>potential</b></span><br><br><br><span style="color:rgb(23, 30, 26);">^ Subject to Council Approvals</span><br><br><span style="color:rgb(23, 30, 26);"># Subject to the market at the time.</span>
