286 King Street Caboolture QLD 4510
- 917 m²
- Expressions of Interest
6.00% RETURN ON BRAND NEW RETAIL CENTRE IN BRISBANE'S NORTHERN GROWTH CORRIDOR
- ANNUAL NET INCOME OF $421,163 PLUS GST
- ALL TENANTS TRADE EXTREMELY STRONGLY
- NET INCOME UNDERPINNED BY PUMA ENERGY
MDM Group is excited to present 286 King Street (Caboolture) for sale for the first time via an Expressions of Interest campaign closing 4pm Thursday 1st August 2019.
This acquisition represents a unique opportunity to acquire a strategically located retail centre with a diversified income stream, fixed annual rental reviews, significant depreciation benefits and long term capital appreciation.
100% LEASED TO QUALITY NATIONAL & LOCAL RETAILERS:
This retail centre is securely anchored by a brand new 15 year lease to Puma Energy until 8th March 2032 with a further 4 option terms of 5 years respectively. The anchor tenant, Puma Energy, is supported by 3 long term and secure leases to TSG Tobacco (10 years), Food on King (5 years) and Phelan’s Bakery (7 years).
HIGH PROFILE LOCATION ON MAJOR ARTERIAL ROAD:
- Occupying a high profile block of 2,466 m2 the property benefits from dual street frontages to both King Street, one of the major arterial roads in Caboolture, and Valley Drive.
LONG TERM WEIGHTED AVERAGE LEASE EXPIRY (W.A.L.E):
Thanks to the long term leases in place, in particular the 15 year initial commitment to Puma Energy who provide 74.35% of the property’s annual income, this property has an exceptionally secure W.A.L.E of 10.95 years by income.
INCOME SECURITY WITH STRONG GROWTH:
- The property represents a secure, high growth investment with all lease documents including fixed annual rental increases of between 3.00 – 3.50% that will ensure income and capital growth into the future.
- The property enjoys phenomenal exposure, tenant branding and vehicular access from all directions of traffic along both King Street and Valley Drive to ensure it provides the most convenient shopping experience for customers.
IDEAL ENVIRONMENTAL AND DECONTAMINATION CLAUSES:
- If Puma Energy were ever to vacate the property they are required to remediate the site upon lease expiry to the baseline level outlined in the initial Baseline Environmental Site Assessment commissioned prior to their lease commencement. Prior to lease commencement there was no evidence of contamination at the property.
ATTRACTIVE DEPRECIATION BENEFITS:
- Constructed in 2017 with the latest fuel storage and construction technology including double skinned fibreglass underground storage tanks and brand new pumps and lines this centre provides excellent depreciation benefits for the incoming landlord.
MDM Group encourages your participation in the sale process of this phenomenal investment opportunity.
For more information please contact Michael Maguire on 0412 738 538.
EXPRESSION OF INTEREST
|Closing date and time||01/08/2019 16:00|
|Recipient name||Ask Agent|
|Delivery address||Ask Agent|
|Floor Area||917 m²|
|Land Area||2,466 m²|
|Parking||25 x Onsite parkings|
|Building Type||Whole building|
|Last updated||5 Jul 2019|