 Asset Class: | Retail |
 Price: | $ 41000000 |
 Net Yield: | 7.00 % |
Net Yield - including solar strategy: | % |
 Property Market Status: | On Market |
<span style="color:rgb(0, 0, 0);">This property represents an exceptional buying opportunity. Most metro-based Coles or Woolworths anchored shopping centres in major cities are selling in the 5% to 6% net yield range, whereas this property is closer to 7%* net yield on a fully leased basis.</span><br><br><span style="color:rgb(0, 0, 0);">Furthermore, there are a number of potential value-add opportunities that have the potential to add significant value to the property, such as extendeding the Coles lease, extending the medical tenant lease, adding solar to the roof, cosmetic facade upgrades, and others.</span><br><br><span style="color:rgb(0, 0, 0);">Metro Middle Park Shopping Centre comprises a modern, single-level enclosed neighbourhood shopping centre anchored by a 2,626sqm* Coles supermarket and supported by 38 specialty shops, 2 kiosks and 1 ATM. The complex features a total gross lettable area of 6,433sqm* and at grade parking for 301* vehicles.</span><br><br><span style="color:rgb(0, 0, 0);">Metro Middle Park is located in the established suburb of Middle Park, 17km* south-west of the Brisbane CBD.</span><br><br><span style="color:rgb(0, 0, 0);">The property is strategically positioned on the corner of Horizon Drive and Riverhills Road. Horizon Drive is a local connector road connecting the centenary suburbs to the M5 (Centenary Motorway) via Sumners and Dandenong Roads.</span>
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Middle Park is located in the affluent and established centenary suburbs, 17km south-west of the Brisbane CBD.<br><br>The Centenary Suburbs include Middle Park, Jindalee, Mount Ommaney, Jamboree Heights, Westlake, Riverhills and Sumner.<br><br>Middle Park is easily accessible by the Centenary Motorway (M5), a major arterial traffic route linking Brisbane’s western suburbs and the CBD to the north-east as well as Ipswich and Springfield to the south-west.<br><br>Notable educational institutions within the area include Good News Lutheran School, Jamboree Heights State School, Middle Park State School, Centenary High School, along with several childcare centres. Middle Park is especially well serviced by sporting facilities, parklands and public transport services.<br><br>The nearby Centenary Motorway is currently being improved with a $298.5m upgrade of the Centenary Bridge at Jindalee, providing a new 3-lane northbound bridge and a remediation of the existing bridge to create 3 southbound lanes, which will provide local commuters with greater efficiency and travel-time reliability.<br><br>The property is near:<br><br><p style="margin-inline-start:36pt;"><span style="color:windowtext;">· Centenary</span><span style="color:windowtext;margin-inline-start:36pt;">Bridge/Motorway (2 km* by road)</span></p><br><p style="margin-inline-start:36pt;"><span style="color:windowtext;">· Mount Ommaney Shopping Centre (Kmart, Target, Big W, ALDI, JB HiFi, Woolworths, Coles + 170* </span><span style="color:windowtext;margin-inline-start:36pt;">speciality stores (2.3 km* by road)</span></p><br><p style="margin-inline-start:36pt;"><span style="color:windowtext;">· Archerfield</span><span style="color:windowtext;margin-inline-start:36pt;">Airport (13 km* by road)</span></p><br><p style="margin-inline-start:36pt;"><span style="color:windowtext;">· Princess</span><span style="color:windowtext;margin-inline-start:36pt;">Alexandra and Greenslopes Hospitals (18 km* by road)</span></p><br><p style="margin-inline-start:36pt;">- Brisbane CBD (18 km* by road)</p><br><b>Population snapshots:</b><br><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Greater Brisbane population is 2,700,000* at June 2023</span></p></li></ul><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">SEQ’s population is 4,000,000*.</span></p></li></ul><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">SEQ’s population will increase to 6,000,000* by 2046.</span></p></li></ul>
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● <b>Only Neighbourhood Centre in Expansive Trade Area</b><br> - Enclosed neighbourhood shopping centre anchored by Coles + 38 specialties + 2 kiosks. Total GLA 6,433sqm* plus parking for 301* cars.<br><br>● <b>Rare Metropolitan Brisbane Offering</b><br> - Rare opportunity to acquire a centre in booming metro Brisbane.<br><br>● <b>Large Main Trading Area (MTA) Catchment</b><br> - Only major supermarket in a large MTA catchment of 24,690 people, including 15,840 in the Primary Trade Area.^<br><br>● <b>Diverse Daily Needs Tenancy Mix</b><br> - Diverse convenience-based tenancy mix including Food, Liquorland, Amcal Chemist, Medical, Casual Dining & Professional Services.<br><br>● <b>Supermarket Rental Growth</b> - Coles currently trading into turnover rent.<br><br>● <b>Affluent Young Family Catchment</b><br> - Attractive trade area profile comprising affluent young family households. High income levels 17% above Brisbane average.<br><br>● <b>Strong Embedded Land Value</b><br> - High profile 21,390sq m* site zoned District Centre DC1, allowing mixed use development options with 90%* site cover + up to 4 storeys in height providing up to 77,000sq m* GFA potential.<br><br>● <b>Strong Retail Spending Forecast Growth</b><br> - MTA retail spending of $459.4m increasing to<br>$692.9m by 2041.^<br><br>● <b>Net Annual Income (Fully Leased) - $2,852,103 p.a.*</b><br><br>*Approximate<br>^Source: LocationIQ<br><br><br>
