Brisbane retail centre sells for $7.3m
A fully-leased neighbourhood retail centre in Brisbane’s west has changed hands after 23 years.
Windermere Village at 21 Goggs Road, Jindalee, attracted nine offers following an expressions-of-interest campaign last month.
The $7.3 million result reflects a 5.88 per cent net passing yield.
Ray White Commercial’s Michael Feltoe and Pablo Routledge were the agents.
Also classified as being in Sinnamon Park, the property is 14 kilometres from town.
Windermere Village
On 5314 square metres, one holding from the Seventeen Mile Rocks Rd interchange to the Centenary Highway/M5, Windermere Village is exposed 118 metres to Goggs Rd.
Also opposite Jindalee DFO and neighbouring a 7-Eleven and Guzman y Gomez, it contains 40 car parks (continues below).
The 710 sqm complex spans a low 13pc of the block.
Subway has occupied since it was developed in 2003.
The agents said base rents were below $700 per sqm, providing potential for growth.
The weighted average lease expiry by income is 2.85 years with tenants paying the usual outgoings.
Jindalee, in Brisbane’s established western growth corridor, has a median annual household income of about $122,600, above Brisbane’s $97,240 and Queensland’s $87,100, according to 2021 Census data.
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