115-119 Short Street,
Boronia Heights, QLD 4124
Shops & Retail
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CBRE - Brisbane
Waterfront Place Level 3, 1 Eagle StreetBRISBANE CITY, QLD 4000
04880590...
115-119 Short Street
Boronia Heights, QLD 4124
Map of 115-119 Short Street
FIRST TIME OFFERED TO MARKET - ESTABLISHED IGA CONVENIENCE CENTRE
- Secure 5.1 year WALE (by income)
- Strong tenant retention
- Potential devlopment options (STCA)
CBRE Retail Investments is pleased to present to market the Boronia Heights Shopping Centre.
• Well established 1,200sqm* convenience centre, anchored by an IGA Supermarket and 9 additional specialty retailers.
• 389sqm* IGA Supermarket that has been in occupation for over 30 years, and secured by a 12 year lease expiring in 2031, representing 32% of GLA.
• Secure 5.1 year WALE (by income), with 54% of retailers occupying the centre for over 10 years, demonstrating excellent tenant retention and demand from the catchment.
• Expansive 5,837sqm* freehold corner allotment, with a significantly low 20% site coverage, and potential further development (STCA).
• Designed to provide supreme convenience with all tenants benefiting from direct exposure and access to the 78 on grade car parks.
• Opportunity for genuine growth across the income profile via rent reversions with current rentals sitting below recent market comparable evidence.
• Situated 25km* south of the Brisbane CBD, the centre is surrounded by key residential suburbs including Park Ridge and Browns Plains with easy accessibility via the Mount Lindesay Highway.
• Fully leased net income $513,000 per annum + GST**
Boronia Heights Shopping Centre is for sale via expressions of interest closing Thursday 7th March 2024 at 4:00pm (AEST).
For further information on this opportunity, please reach out to Harrison Coburn or Michael Hedger.
*Approximate. **Approximate, as at 1 May 2024
• Well established 1,200sqm* convenience centre, anchored by an IGA Supermarket and 9 additional specialty retailers.
• 389sqm* IGA Supermarket that has been in occupation for over 30 years, and secured by a 12 year lease expiring in 2031, representing 32% of GLA.
• Secure 5.1 year WALE (by income), with 54% of retailers occupying the centre for over 10 years, demonstrating excellent tenant retention and demand from the catchment.
• Expansive 5,837sqm* freehold corner allotment, with a significantly low 20% site coverage, and potential further development (STCA).
• Designed to provide supreme convenience with all tenants benefiting from direct exposure and access to the 78 on grade car parks.
• Opportunity for genuine growth across the income profile via rent reversions with current rentals sitting below recent market comparable evidence.
• Situated 25km* south of the Brisbane CBD, the centre is surrounded by key residential suburbs including Park Ridge and Browns Plains with easy accessibility via the Mount Lindesay Highway.
• Fully leased net income $513,000 per annum + GST**
Boronia Heights Shopping Centre is for sale via expressions of interest closing Thursday 7th March 2024 at 4:00pm (AEST).
For further information on this opportunity, please reach out to Harrison Coburn or Michael Hedger.
*Approximate. **Approximate, as at 1 May 2024
Boronia Heights, 4124 demographic data
The median household income for Boronia Heights is $1,453, 21% lower than Greater Brisbane's household income of $1,849. Boronia Heights has a younger age profile compared to the rest of Greater Brisbane (median age 34 vs 36). Property ownership data shows 66% of property owners in Boronia Heights have a mortgage.
8,175
Population
$1,453 per week
Median household income
34 years
Median age
Owners
Most residents
Families
Most households
CBRE - BrisbaneWaterfront Place Level 3, 1 Eagle Street
BRISBANE CITY, QLD 4000
BRISBANE CITY, QLD 4000
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