This opportunity is to purchase equity in The Village Sandstone Point Shopping Centre, which is an established neighborhood centre in the fast growing suburb of Sandstone Point, north of Brisbane, Queensland.
The modern neighbourhood shopping centre securely anchored by an IGA supermarket with a Metcash Limited guarantee and 7 specialty stores, including a BWS Bottle Shop, Century21 Real Estate Agency, Dentist, Medical Centre, Pharmacy, Newsagent and Hairdresser.
» Target Internal Rate of Return (IRR) of approx. 14%.
» Current fully let income forecast at $775,000 pa.
» IGA accounts for 53% of GLA with a 15yr lease with 2x 5yr options expiring 2031.
» Weighted Average Lease Expiry (WALE ) anticipated > 5yrs.
» 161 onsite car spaces.
» Sandstone Point is a suburb approximately 52kms north of Brisbane within the Moreton Bay Region. It is located across the bridge from Bribie Island and has views of Moreton Bay.
The shopping centre is approx. 2,289 sq. metres of gross floor area with 152 at grade car bays. There is the potential for re-development upside to increase the floor area.
An independent market assessment report undertaken in May 2016 provided the following advice on the centre and catchment area:
The Information Brief attached provides additional details in relation to the project.