Colliers is pleased to present for sale via International Expressions of Interest the ‘Q1 Tower Retail Precinct’, a modern multi-tenanted retail centre situated ground floor fronting the Q1 Tower in Surfers Paradise.
Developed in 2005, The Q1 Tower, Australia's tallest building, consists 526 apartments across 78 Floors. The upper two levels being home to the world-class tourist attraction Skypoint, one of Queensland’s most iconic tourist attractions and a major drawcard of foot traffic and clientele benefiting this investment.
Comprising 13 retail tenancies (12 leased - 95.5% occupied) with 34 basement car parking spaces plus 6 additional income producing storage areas, this modern designed, well-presented asset requires minimal capital expenditure in the foreseeable future.
A high quality passive investment with minimal historical tenant turnover, this centre boasts a diverse mix of service orientated local and national businesses across the entire 13 tenancies. Tenants include BWS, Subway, Crema Espresso, a convenience store, beauty salons, real estate agencies and restaurants.
Key attributes:
- Modern high quality well established multi-tenanted investment
- High profile position fronting Australia's tallest building, the world renowned ‘Q1 Tower’
- Net Income: $1,131,609pa* (As at 01 Dec 23)
- Total NLA: 1,134m²* + additional income producing storage areas
- 13 tenancies, 12 leased (95.5% occupied)
- Quality secure lease covenants with very low historical turnover of tenants
- WALE: 7.44 Years (By Area) | 6.35 Years (By Income)
- Service orientated retail tenant mix
- 34 basement car parking spaces
- Well established low maintenance proven asset
- Tenants benefit from adjoining major tourism attraction “Skypoint” with high volume customer foot traffic daily
- Significant and consistent customer base courtesy of Q1 Apartments (526 holiday and permanent apartments)
- Prime location adjacent to the Surfers Paradise light rail station
Due diligence available upon request
For Sale via International Expressions of Interest closing Thursday 14 September 2023 at 4pm.
Please contact Steven King 0417 789 599 or Marlon Crawford 04185 480 874 for further details.
*Approximately
~Outlines indicative only
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