FIRST TIME OFFERED TO MARKET - ESTABLISHED IGA CONVENIENCE CENTRE
CBRE Retail Investments is pleased to present to market the Boronia Heights Shopping Centre.
• Well established 1,200sqm* convenience centre, anchored by an IGA Supermarket and 9 additional specialty retailers.
• 389sqm* IGA Supermarket that has been in occupation for over 30 years, and secured by a 12 year lease expiring in 2031, representing 32% of GLA.
• Secure 5.1 year WALE (by income), with 54% of retailers occupying the centre for over 10 years, demonstrating excellent tenant retention and demand from the catchment.
• Expansive 5,837sqm* freehold corner allotment, with a significantly low 20% site coverage, and potential further development (STCA).
• Designed to provide supreme convenience with all tenants benefiting from direct exposure and access to the 78 on grade car parks.
• Opportunity for genuine growth across the income profile via rent reversions with current rentals sitting below recent market comparable evidence.
• Situated 25km* south of the Brisbane CBD, the centre is surrounded by key residential suburbs including Park Ridge and Browns Plains with easy accessibility via the Mount Lindesay Highway.
• Fully leased net income $513,000 per annum + GST**
Boronia Heights Shopping Centre is for sale via expressions of interest closing Thursday 7th March 2024 at 4:00pm (AEST).
For further information on this opportunity, please reach out to Harrison Coburn or Michael Hedger.
*Approximate. **Approximate, as at 1 May 2024
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