Price Reduced (8.3%) Retail/Industrial CBD Investment $5,500,000
RWC Retail are proud to present for sale 16-18 Victoria Street, Mackay - an ASX-anchored tenanted investment and prime development site in the heart of the Mackay CBD. For Sale at $5,500,000 (8.3%)
|What|
• Large-format 4,102sqm* Campbells Wholesale retail store supported by a 350sqm* C&C Panel & Paint auto body repair shop.
• Campells Wholesale tenancy provides highly desirable cold storage, refrigeration and bulky goods storage space in addition to a retail floorspace
• Campbells is a wholly owned subsidiary of Metcash (ASX:MTS), Australia's largest wholesaler with a $3.6bn market cap
• Unrivalled 5,174sqm* island site in the Mackay CBD with 4-street frontage totalling over 300m* and unimpeded riverfront views
• WALE of 2.33 Years (By Area)
• Fully Leased Net Income of $455,564 + GST p.a.
|Where|
• 90 minutes flight North of Brisbane and 60 minutes flight South of Townsville, the Mackay CBD is the heart of the continually growing Mackay-Whitsundays region
• Situated within the Mackay Waterfront PDA - which encourages development to revitalise and enhance the City Centre & Riverside
• This plan has already seen the delivery of the Mackay River Wharves, which includes communal pavilions, stages and activity areas - directly adjacent to this property
|Why|
• Campbells have anchored the property since 1985 (over 38 years)
• As Australia's largest wholesaler, the ASX-listed Metcash covenant is one of the most sought-after in Australian retail property
• 10-storey mixed-use development upside with performance-based development potential up to 49m* AHD
• An outstanding opportunity to acquire a landmark site with development upside anchored by a longstanding national tenant on a 8.3% yield.
• Future rental reversion upside with current gross rents of $115/sqm* for Campbells and $182/sqm* C&C Panel
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