Iga Anchored Shopping Centre with 14 Tenancies
Property ID 1646145Prominently located at the corner of Pine Mountain Road and Barkell Street Ipswich, 90-96 Pine Mountain Road provides an easy to access convenience offer which targets the substantial traffic flows to and from the Ipswich CBD, Ipswich's northern suburbs and the three schools located at nearby Hunter Street.
Recently refurbished, the subject centre has a high profile outbound location, offers ease of access and attracts patronage with a solid convenience mix underpinned by a solid IGA supermarket offering.
90-96 Pine Mountain Road Brassall offers:
- An investment property positioned on a highly trafficked street with an out-bound corner position in Queensland's fastest growing city;
- An investment size and a NET return which far exceeds that of residential property or fixed interest - ideal for long term investment;
- Several exit strategies such as breaking the title into smaller investments (STCA), future site amalgamation with adjoining owners and possibly redevelopment;
- A central position in a long-established growing trade-area of some 11,000 residents with exposure to substantial vehicular and footpath traffic;
- Comprising 14 tenancies, many with a long term history in the centre, the subject centre provides substantial income stability through the tenant quantity and tenant diversity - losing one of the tenants won't decimate the income stream;
- Rent levels which allow for substantial future income growth and which provide long term tenant stability as reflected by the lack of rental arrears;
- Having been recently refurbished, the subject centre requires little (if any) capital expenditure;
- Income growth through converting current gross leases to future net leases.