J U S T S O L D - C A S E S T U DY
TYPE RETAIL
NLA 1,026M2
SOLD 25/06/21
ENQUIRY 317
OFFERS 11
SALE PRICE $4,125,000
MARKETING $1,868
YIELD 6%
CONVENIENCE RETAIL IN DEMAND
245 FRANCIS ROAD, BRAY PARK QLD 4500 The owner of 245 Francis Road, Bray Park. was motivated by the opportunity to develop other assets resulting in this dual grocery and childcare anchored centre being placed on the market. When we were first introduced to the property, most tenants were on short leases and there were 3 vacancies including the grocery anchor. Attracting an IGA tenant to the centre has been pivotal in attracting new customers and improving both the WALE and income for the property. Once re-negotiation of other leases was complete, we could achieve a great result for the property due to the certainty of strong leases investment.
JULIE RYAN 0447 445 453
MAJOR ASSET SALES julie.ryan@raywhite.com
“COVID has driven consumers to local convenience centres and this has led to grocery-anchored retail being especially sought after,” said Julie Ryan. “With 317 enquiries, convenience retail is in high demand.” The sale confirmed there is a demand for similar properties if there are stable long-term leases in place.
D WA I N E B AT H E R N 0499 568 419
SALES & LEASING ASSOCIATE dwaine.bathern@raywhite.com
raywhitecommercialnortherncorridorgroup.com.au