Under instructions from Tony Miskiewicz and Jennifer Nettleton of KordaMentha (as Agents for the Mortgagee in Possession), Colliers International (Marketing Agents) is pleased to offer for sale the properties located at 261-263 Flinders Street, 265-267 Flinders Street and 12 Sturt Street, Townsville (Properties). (Lot 1 on RP723330, Lot 2 on RP701661 and Lot 89 on CPT1181).

Located in the core of Townsville's CBD, 261-263 Flinders Street, 265-267 Flinders Street and 12 Sturt Street presents a unique buying opportunity for investors, owner occupiers, land bankers and developers to purchase a prime piece of commercial real estate in Townsville's tightly held CBD. The combined land area of the 3 properties totals 2,024m²* and is regular in shape whilst boasting 20m* frontages to both Flinders Street and Sturt Street.

Formerly Flinders Mall, the precinct underwent a $56m redevelopment in 2012 which transformed the enclosed pedestrian mall into a dual lane traffic corridor. In recent years the precinct has welcomed further investments including the redevelopment of the Cowboys Leagues Club, City Lane restaurant strip and City Arcade which is now home to a full line Woolworths.

This holding is located close to the Townsville City Waterfront Priority Development Area (PDA) and is within 300m* from the new Townsville Bus Hub which is now delivering public transport users into the heart of the CBD and connecting with the brand new $300 million, 25,000 seat Qld Country Bank Stadium as well as the city's dining and entertainment precincts.

The ability exists to generate income with commercial buildings occupying 261-263 Flinders Street and 265-267 Flinders Street. Alternatively, the buildings are suitable for owner occupation either in full or part. The existing buildings accommodate a mix of retail and office tenancies which range in size from 16m²* to 157m²*. The current configuration provides a total of 14 individual tenancies across both buildings with a total net lettable area of 889m²*. Larger requirements can be accommodated by combining tenancies. This is coupled with casual income being produced from carparking arrangements on the vacant 1,012m²* site located at 12 Sturt Street with 28* designated bays.

The 3 properties are being offered as a whole however consideration will be given to individual sales.

Price in one line: $1,300,000 (Ex GST)

Individual prices:
261-263 Flinders Street: $575,000 (Ex GST)
265-267 Flinders Street: $450,000 (Ex GST)
12 Sturt Street, Townsville: $650,000 (Ex GST)

For further information or to arrange an inspection, please contact Todd Walsh at Colliers.

* Approximately