 Asset Class: | Retail |
 Price: | $ 5000000 |
 Net Yield: | 7.25 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | Off Market |
<span style="color:rgb(0, 0, 0);">Offer is a unique investment opportunity in the heart of Mackay's "Legal & Professional Services" CBD precinct featuring multiple strata units offered as a single consolidated ownership for the first time. The complex has an existing body corporate and a tenant-funded sinking fund, reducing future capital expenditure. The incoming owner will gain from a diversified tenancy mix and the flexibility to halt or retain the strata levies or control ongoing management and upgrades through the admin and sinking funds. Additionally, there is the ability to sell off the lots individually at a lower yield if desired.</span><br><br><span style="color:rgb(0, 0, 0);">This is a low-risk investment in a prime location along Brisbane Street that comes fully leased to 3 longstanding tenants, across 6 seperately-titled lots. It comes with 16 parking bays, rare in Mackay’s CBD 17 Brisbane street is walking distance to the Mackay Entertainment and Convention Centre, the Market Centre, and Caneland Central Shopping Centre, anchored by Myer, Coles, and Woolworths. Situated on a 1,018m2* corner parcel with a NLA of 1,038m2* over two levels, the property is part of the vibrant Mackay-Whitsunday region with an economic output of $22.3 billion* and population of 188,000*.</span><br><br><span style="color:rgb(0, 0, 0);">This is a cornerstone CBD investment offering stability and is projected to provide its incoming owner a net income of $298,000* pa, which is after all outgoings including land tax, insurance and management.</span>
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<span style="color:rgb(0, 0, 0);">Mackay is an economic powerhouse and one of QLD’s fastest growing coastal regions. As of the most recent available data, the Mackay-Whitsunday region has a population exceeding 177,000* residents, produced an economic output of $22.3 billion* and supported 55,000 jobs (55.93% of the regions employment). Mackay is fuelled by the strength of its diversified economy, spearheaded by its globally recognised engineering resource sector, resurging agribusiness, alongside the education, logistics, and tourism industries. The region has a strong forecast of developments with $19.7* billion in construction work across more than 163 projects. It also has a low unemployment rate of 2.8%, lower than both the QLD (3.7%) and Australian averages (3.6%).</span><br><br><span style="color:rgb(0, 0, 0);">Queensland Growth</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 FileAfter purchasing the first building over 15 years ago & creating the iconic ‘Burp Restaurant’ (ie. At 86 Wood St), the family then purchased & opened the Dispensary Bar in 2009 next door (ie. At 84 Wood St). <br>Due to the ongoing demand by patrons &the need for a larger kitchen to service the precinct, they then purchased a neighboring building (ie. At 88 Wood St) & renovated into a dining/function room,<br>along with a larger kitchen area. In 2019 the ‘complex’ was rebranded as ‘The Dispensary’ to make all three buildings one brand & venue.<br><br>Fit out costs, fixtures/furniture/fittings & equipment for the 3 businesses, costs of which have been covered by the businesses, would exceed approx. $3mil.<br>Whilst the business management had been headed by family members, there are now daily managers in place for all business segments & they in turn are supported by a team of passionate & experienced staff.<br>The café currently operates 7 days a week from 6am to 2.30pm, with the café/restaurant Tuesday to Thursday from 3pm to 10.30pm, Friday/Saturday 3pm to late,with the Bar Friday/Saturday 4pm to 12am.<br>The business consistently trades with a gross turnover between $4mil & $4.5mil annually and holds stock in the $500,000 range.
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84-88 Wood Street Group Summary:<br>Total Lease income from Properties: $364,100 pa +outgoings +gst<br>Outgoings:<br>Mackay Council Rates & Water Rates: $31,479 pa<br>Insurances: $58,498 pa<br>Land Tax (combined sites $545,000): $4,765 pa
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• Exclusive and strictly confidential commercial investment<br>• Two High-Profile Tenants - Fully Leased<br>• Anchor Tenant: Australian Government<br>• Good location with convenient access to major transport hubs.<br>• 4.8 km from Mackay Harbour and 7.9 km from Harbour Beach<br>• Significance: Proximity to recreational and commercial areas enhances appeal<br>• Located alongside the Mackay Waterfront Priority Development Area<br>• Strategically Placed Mackay CBD (5.2 km from Mackay Airport)<br>• 3 Road Frontage with Front & Rear Access<br>• Parking: 17 Spaces<br>• NLA: 2,961m²<br>• Total Land Area: 4,533m² over Two Separate Lots**<br>• Zoned: Commercial<br>• Disability Access<br>• Ensures inclusivity and compliance with accessibility standards.<br>• Represents good value in the market.<br>• Future Redevelopment Options<br>• Significance: Offers potential for increased value through redevelopment.<br>• Mackay is the Gateway to Queensland's Greater Whitsunday Region (Population 135,000+)<br>• Significance: Indicates a growing and vibrant regional market.
