JLL and CBRE are pleased to present to market Albany Creek Village – An opportunity to acquire a dominant neighbourhood shopping centre with significant re-positioning opportunities. The centre is located 15km* north of the Brisbane CBD in a prime metropolitan location.
Albany Creek Village has recently undergone a significant $3m+ centre refurbishment and a $7m+ Coles refurbishment, upgrading the supermarket to the latest full line store concept. The opportunity also provides significant future upside for the incoming purchaser with considerable tenancy redevelopment and repositioning potential.
Key investment highlights pertaining to Albany Creek Village are as follows:
• Established Neighbourhood Shopping Centre: The centre is securely anchored by a 4.26 year WALE (by income), underpinned by a strong performing full-line Coles Supermarket and further supported by 1 mini-major and 34 specialty tenancies.
• Premium Location : High profile site with over 93 metres* of direct exposure to Albany Creek Road, providing over 10.2* million in vehicular exposure per annum.
• Expansive Land Rich Site: Situated on an expansive 28,980sqm* allotment including significant on grade parking for 403 cars, with direct dual street access and egress via Albany Creek Road and Wruck Crescent.
• Large & Affluent Main Trade Area^ : Dominant Main Trade Area (MTA) with retail spending projected to increase at a 3.3% p.a growth rate, reflecting over $2.8bn by 2041.
• Tenancy Repositioning: Significant future rental upside for an incoming purchaser via a potential tenancy carve up and redevelopment.
*Approximate. ^ Location IQ Report. **Approximate, as at 30 June 2024
Albany Creek Village is being offered for sale via Expressions of Interest closing 4pm (AEST) Wednesday 24th April 2024.
Please reach out to Jacob Swan (JLL), Ned McKendry (JLL), Joe Tynan (CBRE) and Michael Hedger (CBRE).
Remember to mention you found this property on CommercialReady
