Sold
Award Winning Supermarket with 12 Year Net Lease
3-11 Illuka Street, Currajong QLD 4812
Last Asking Price - $5,000,000
RetailSize: n/a
Block size: 5340 m² approx.
Ray White Commercial QLD is pleased to offer for sale Otto's Market Warrina, a vibrant shopping arcade comprising a mix of a supermarket, boutique food outlets, local businesses and Townsville's only ice skating rink, all under one head lease.
WHAT
• The centre is anchored by a single head net lease to Otto's Market, a thriving retail destination for locals with over 40 years of history at the centre
• A diverse mix of 17 specialty stores all operating under the Otto's head lease
• Comprising 2,551sqm* of GLA situated prominently on a 5,340sqm* site
• Offering 103 on-site car parks with access to the centre available from three streets
WHERE
• Situated less than 5km from the Townsville CBD, Queensland's largest regional city home to a population of approximately 200,000 people, and estimated to boom by over 57% through 2036
• Townsville's infrastructure development is underpinned by the multi-billion dollar City Deal, delivering such projects as the Townsville Stadium, Port of Townsville upgrade and Haughton Pipeline.
WHY
• A single 12-year head net lease with Otto's paying for all outgoings, including land tax
• Otto's hold management rights over the centre, making it a true passive investment
• An established, thriving and award winning tenant seeking to expand further
• Fully leased net income of $615,501 + GST p.a
WHAT
• The centre is anchored by a single head net lease to Otto's Market, a thriving retail destination for locals with over 40 years of history at the centre
• A diverse mix of 17 specialty stores all operating under the Otto's head lease
• Comprising 2,551sqm* of GLA situated prominently on a 5,340sqm* site
• Offering 103 on-site car parks with access to the centre available from three streets
WHERE
• Situated less than 5km from the Townsville CBD, Queensland's largest regional city home to a population of approximately 200,000 people, and estimated to boom by over 57% through 2036
• Townsville's infrastructure development is underpinned by the multi-billion dollar City Deal, delivering such projects as the Townsville Stadium, Port of Townsville upgrade and Haughton Pipeline.
WHY
• A single 12-year head net lease with Otto's paying for all outgoings, including land tax
• Otto's hold management rights over the centre, making it a true passive investment
• An established, thriving and award winning tenant seeking to expand further
• Fully leased net income of $615,501 + GST p.a
Inspections
No open inspections scheduled.
Send an enquiry
Contact Lachlan O'Keeffe to learn more about this property, request an inspection or take an online tour.
Key details
Property Type:Retail
Lot:8
Plan Type:SP
Plan:155548
Block Size:5340 m²*
*These are approximate values based on available information.
Maps and area information
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Block information
Block size: 5340m² (approx)
Legal description: 8/SP155548
Measurements are estimates only and based on data provided under licence from
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Property history
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31 May 2022
Sold
Ray White Commercial (QLD)
Listed: 21/04/2022
Block size: 5340m²
Transfer type: Full transfer
Suburb and property insights
Average Age
39 years
Population
2,548
Currajong's Property Profile
Currajong's Occupancy
Contact agents
Ray White Commercial (QLD)
View agency details
Please send me information on 3-11 Illuka Street, Currajong QLD 4812
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Listing ID: 180561780. This listing has been viewed 1 time. It was first displayed on 21/04/2022 and last updated on 31/05/2022.