Beaudesert Fair Shopping Centre, the largest within south-east Queensland’s Scenic Rim Region, has been listed for sale after undergoing an extensive repositioning and capital expenditure program.
Located 65km south of the Brisbane CBD and 60km west of the Gold Coast, Beaudesert Fair has been providing everyday essentials to local and surrounding communities for more than 30 years.
The 7,035m2 neighbourhood centre is positioned on a 2.17-hectare site in the Beaudesert Town Centre and is secured by a renewed 15-year supermarket lease to Coles, representing 53% of the GFA.
CBRE’s Michael Hedger and Joe Tynan have been appointed to manage the sale on behalf of the private owners.
“Retail spend within the trade area is estimated at $373.8 million, with a forecast average annual growth rate of 4.3% per annum until 2041, further supporting the income profile. This, underpinned by the new 15-year lease to Coles, will help drive strong interest in the sale campaign,” said Hedger.
“The centre’s average gross rent is 47% less than the average rent for the town, providing a sustainable income profile that is positioned for growth.”
The centre has a WALE by income of 8.6 years and is further underpinned by a diverse essential service profile representing 76% of the gross income.
A strategic repositioning and capital expenditure program has recently been completed, including the refurbishment of Coles, the introduction of a Medi-hub, car parking and a centre rebrand.
Expressions of Interest close September 15th 2022.