Brisbane western growth corridor retail centre sells for $12.7m
Buyer’s agency Rethink Investing has bought a large-format retail centre in Brisbane’s western growth corridor.
The eight year old asset, 355 Brisbane Street, West Ipswich, cost $12.69 million.
With three tenancies leased to Anaconda, TOMRA Collection Solutions and Wattyl Paints, the 3001 square metre complex returns annual rent of c$803,989.
The 6081 sqm site with 69 at-grade car parks has 65 metres of street frontage where it is passed by c23,570 vehicles a day.
JLL’s Nick McKendry and Liam Cox were the agents with Stonebridge Property Group’s Harrison Coburn, Michael Collins, Thomas Proberts and Tom Moreland.
Also today realestatesource.com.au is reporting Precept Property Partners, on behalf of a mandate with a background in the medical sector, bought Ipswich’s historic Queen Victoria Silver Jubilee Memorial Technical College – now a mixed-use office and retail asset.
Earlier this year meanwhile, Deltine snapped up the Country Motel Ipswich (continues below).
355 Brisbane Street
The Brisbane St centre neighbours a separately owned component with a 7-Eleven, Bridgestone and Oporto.
The complex is part of broader large format retail strip, near a Bunnings, Spotlight and Total Tools and the Riverlink Shopping Centre.
Anaconda, TOMRA and Wattyl are on leases with fixed rent rises.
Rethink represents amongst others, private investors and syndicates.
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