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Sold on 18 May 2022

3-11 Illuka Street Currajong QLD 4812

  • Shop & Retail
  • 2,551 m²
  • Sold

Award Winning Supermarket with 12 Year Net Lease

    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

    Property Highlights

    Date Sold18 May 2022
    Floor Area2,551 m²
    Land Area5,340 m²
    Parking103 x Onsite parkings
    Virtual TourView Tour
    Property ID2017750805
    Category
    Last updated  28 Jun 2022
    Map for 3-11 Illuka Street Currajong QLD 4812

    Property Highlights

    Date Sold18 May 2022
    Floor Area2,551 m²
    Land Area5,340 m²
    Parking103 x Onsite parkings
    Virtual TourView Tour
    Property ID2017750805
    Category
    Last updated  28 Jun 2022
    Level 26 111 Eagle St Brisbane City QLD 4000
    Lachlan O'Keeffe
    Lachlan O'Keeffe
    Ray White Commercial (QLD)
    Michael Feltoe
    Michael Feltoe
    Ray White Commercial (QLD)

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