Stonebridge and McVay are pleased to present for sale Capri on Via Roma, a rare opportunity to acquire a premier convenience and lifestyle centre anchored by Harris Farm Markets in a highly connected and affluent Gold Coast location, on the footsteps of Surfers Paradise.
Key highlights of this opportunity include:
- Strong performing convenience lifestyle centre with 99% occupancy rate, configured over 3 modern buildings with a total lettable area of 6,780 sqm*
- Anchored by the Gold Coast's flagship Harris Farm Markets on a 12-year lease with options to 2053 + fixed 3% annual reviews
- Highly tailored tenancy mix featuring 1 mini-major, 24* specialty shops, including an artisan market hall, waterfront dining, convenience retail & services, 5* kiosks and 18* professional suites
- Affluent Gold Coast gateway location, 6 min* drive to Surfers Paradise CBD and a 1 hr* drive to Brisbane CBD and per capita incomes 11% above the Gold Coast LGA benchmark^
- High profile 11,283 sqm* landholding + 2,888 sqm* of surplus land zoned medium density residential, with concept plans for 11* townhouses (subject to Council approval)
- Large catchment with 364,000+ people residing within a 20-minute drive time, (the Harris Farm gives the asset a unique destination draw), rapidly growing at 1.4% p.a. to 2041^
- Outstanding rental growth potential with total specialty Moving Annual Turnover uplift of 35% since 2019**
- Secure and stable cashflow with 95%* of the base rent growing at an average weighted average rent review of 3.3%* p.a.
- Estimated fully leased net income of $5.0 million* p.a. with depreciation potential available
Capri on Via Roma is for sale via Expressions of Interest closing Thursday 21st March at 4pm (AEDT).
For further information on the sale process or to arrange an inspection, please get in touch with the exclusive selling agents.
Stonebridge:
Philip Gartland | +61 403 582 324
Carl Molony | +61 439 032 028
McVay Real Estate:
Sam McVay | +61 402 613 603
Dan McVay | +61 412 872 859
* Approximately
** Excluding Harris Farm, like-for-like comparison
^ Source: Location IQ
