Whistle sells Mackay shopping centre
Whistle Funds Management has sold a Mackay retail asset.
Sarina Beach Road Shopping Centre collected $24.3 million – a 7.45 per cent net passing yield.
It previously sold in 2014, for $21.2m. Stockwell was that vendor.
It was also offered for sale in 2023.
The incoming owner is another Queensland based fund manager, Powercat Group.
Sarina Beach Road Shopping Centre
On 2.14 hectares zoned Commercial, at 9-13 Beach Road, near the Bruce Highway, Sarina, the 6469 square metre complex is anchored to SUPA IGA and Kmart K-Hub, the only discount department store in the main trade area.
Combined these occupiers contribute to 64pc of the income (continues below).
Also with a 16 specialty stores, occupied by, amongst others, Australia Post and The Reject Shop, a chemist, medical centre and pathologist, the annual net income is $1.81m. Moving Annual Turnover is $44.7m.
Part of the holding – a 275 sqm pad site – is permitted for extra lettable area.
The complex has 318 at-grade car parks too.
Sarina is about 35 kilometres south of Mackay.
JLL’s Ned McKendry and Jacob Swan were the agents.
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