A shopping centre in Brisbane’s northern suburbs has been placed on the market and is expected to attract strong investor interest.
The Marketplace Deagon Shopping Centre generates a net annual income of approximately $1,708,000 and is anchored by a 2,374-square-metre Prince’s Supa IGA and five mini-major tenants including The Reject Shop, Good Price Pharmacy Warehouse, Child Care Centre, Healthworks Fitness Centre and Rackley Swim School.
The centre is 100 per cent leased and features 10 specialty traders including national and chain brand tenants such as Mater Pathology, BSW, Subway and Pizza Capers.
The Centre’s net annual income, attractive price point and long weighted average lease expiry of almost 12 years, is expected to draw strong levels of investor enquiry, according to selling agents Savills.
Peter Tyson of Savills said the centre was well located and was exposed to high levels of traffic.
“Marketplace Deagon is quite a unique offering in the marketplace due to the strong anchor weighting and security of income,” he added. “The centre is not only anchored by a major supermarket, but features a strong line-up of five mini-major drawcards, each of which are major traffic generators.”
The Marketplace Deagon shopping centre is being marketed by Expressions of Interest closing 29 September 2016.