November 4, 2012
Expressions of interest are being sought from buyers interested in purchasing “Kingaroy Town Centre” – the complex that houses SupaIGA, Dominos, Target Country, Dollars & Sense and 64 car parking spaces in Avoca Street.
Agents Colliers International, from Brisbane, said the ongoing success of the investment would be driven by “the substantial projected population growth which is underwritten by some $40 billion in resource projects committed to proceed in the surrounding Surat Basin”.
The buildings were completed four years ago.
According to the agents, Kingaroy Town Centre offers:
- Income security with long-term registered lease covenants to four substantial national retail tenants
- Central CBD position with exposure to substantial traffic along the D’aguilar Highway (leading to Brisbane) every day;
- Long term income stability and security with set rental increases every year;
- Capital growth via each tenants’ annual rent reviews;
- Moderate rent levels which allow for long-term income growth;
- Low maintenance modern air-conditioned building with substantial tax deductions;
- Future ability to group title the complex, subject to council approval;
- A tenancy mix which is well adjusted to suit the Kingaroy income demographic;
- Essentially a passive, management free investment with no rent arrears; and
- A motivated vendor who wants to sell a blue chip asset at a time when interest rates are below 6 per cent.
Current net income is $1.09 million.
Expressions of interest close at 4:00pm on December 7.
