Here are six retail properties in Queensland for sale right now
Where COVID-19 has been brought under control and life is continuing as normal, people are back spending at shops and retail outlets, especially those that are non-discretionary in nature.
Retail spending is also going up faster in regional areas compared with capital cities, something experts say is probably due to us holidaying more within the state and using the pandemic as an excuse to move to these regional areas.
Add to the fact that money sitting in the bank is still earning very little, and this all points to retail properties being high on investors’ shopping lists.
Here are six retail properties for sale in Queensland right now.
Pre-auction guide: $1,255,000
This imposing freehold building, built in 1888 in the centre of town, has been a medical practice for 20 years. Its 17 consulting rooms, waiting areas and upstairs apartment are all well maintained, have high ceilings and period details, and there’s a big car park at the back of the 1012-square-metre block.
The practice is on a five-year lease until 2023, with options until 2033. In November 2021, their net annual rent will be $100,423 plus GST, which includes 2 per cent annual increases, according to agents Burgess Rawson, who are taking the property to auction on August 3.
Maryborough is a town in the Fraser Coast region, about three hours north of Brisbane.
In the Sunshine Coast hinterland town made famous by the Buderim Ginger Factory, this large 200-square-metre shop and office is on a 313-square-metre block that includes amenities and rear parking accessed by a side driveway.
The freshly painted building is on one of the main streets in town and is surrounded by a wide range of businesses and plenty of on-street parking.
It is currently tenanted until September 1, on a net rent of $34,000 a year, and is being offered for sale, or lease through Chantel Dielwart, of Ray White Commercial Noosa and Sunshine Coast North.
The town is about 30 minutes from Noosa and about 20 minutes from Maroochydore.
Pre-auction guide: mid-to-high $1 millions
This 90-square-metre shop is in the CBD’s ”golden triangle” near the waterfront precinct and some of the city’s premier office buildings.
It’s been leased to Malt Traders bottleshop and bar for eight years and has just signed another 12-year lease until 2032, with options until 2037. The business has several outlets and uses this one as the distribution centre for its online sales business.
The lease is secured by a bank guarantee and a director’s personal guarantee.
The net rent is $93,375 a year, plus GST, and includes 3 per cent annual increases. It goes to auction on July 28 through agents Cushman and Wakefield Brisbane.
Pre-auction guide: about $1 million
On the Esplanade opposite the beach, it’s no wonder this shop has had the same tenant for nearly 20 years. In fact, the pharmacy chain has recently signed a new lease until 2025, with options until 2030.
What makes this 556-square-metre property (with a 297-square-metre net lettable area) even more attractive is that it’s in a development precinct with the potential to build up to eight storeys, with council approval.
As part of the lease, the tenant pays all outgoings, including management fees. The net rent is $65,128 a year, plus GST, and there are 2 per cent annual rent increases.
Torquay is in Hervey Bay, one of the fastest-growing regional centres of the state.
This property is on 1000 square metres in a small town in sugar cane country about 120 kilometres south of Cairns. It has multiple income streams – three shops and a residence – all of which are on leases of varying lengths.
One of the shops is a post office, which brings regular foot traffic. The building is well maintained, with polished floorboards and a roof that was replaced in the past 10 years, according to the agents A&A Realty.
The annual net rent for the entire property is $29,000 a year.
Price guide: $1.1 million-$1.2 million
This corner store in the Gold Coast suburb of Nerang is being sold for the first time in 33 years.
It’s the only business of its kind in the immediate area and is five kilometres from the nearest supermarket, according to the listing.
The 279-square-metre building includes the store and a three-bedroom apartment upstairs. Both are leased until May 2022, with two three-year options. The annual net rent is $45,000, according to Steve O’Connell, from Gold Coast Commercial Real Estate, and the property, on a 944-square-metre block, has always been rented, the owners say.
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