Investment appetite for Queensland retail assets is set to be tested with the upcoming sale of the Yamanto Village Convenience Centre in Ipswich.
Savills and CBRE have been jointly appointed to market for sale the strong performing travel centre, located at 512-514 Warwick Road, Yamanto – approximately 5km from the Ipswich city centre and 35km south west of Brisbane.
Located on a massive 1.6ha site with 126 car bays, the property consists of a brand new travel centre with 65% of the fully leased income secured by national brand tenants, including Caltex Foodary, Zarraffas, Zamberros, Subway, and Anytime Fitness.
The centre, which boasts an 8.8 year WALE, is located in a highly exposed position with 160m* frontage to Warwick Road, a major arterial road carrying over 16,000* vehicles per day and connects to the Cunningham Highway.
Savills’ Jon Tyson, Peter Tyson and Michael Harcourt and CBRE’s Joe Tynan and Michael Hedger will steer the sale process via expressions of interest.
Mr Tyson said the sale highlighted the growing appeal of travel-anchored retail assets.
“These travel centres have redefined the convenience centre model to provide a full service offering, which includes an integrated convenience and fuel store, multiple drive through food facilities, food & beverage and service-based specialty retail mix,” Mr Tyson said.
Located within one of South East Queensland’s fastest growth corridors, the centre is exceptionally placed to cater for the strong demand in retail services, supported by this population growth.
Additionally the centre will benefit from being located within close proximity to RAAF Amberley Base, which is being expanded to offer employment for 7,000 people by 2020. The centre’s tenancy mix of predominately F&B will attract and service the demand from this growing workforce.
Mr Tynan said the property represented an outstanding opportunity to acquire a high growth investment with fixed annual reviews between 3% and 4%.
“There has been very little quality stock formally offered to the market in South East Queensland, and the assets that have been offered, have been highly sought after – an example of this was the recent transaction of the Caltex anchored Eagleby Travel Centre at a yield reflecting 5.7%,” Mr Tynan said.
This asset has the added benefit of being positioned in one of Queensland’s largest residential growth corridors with a forecast with 5.5%* population growth in the trade area.
Expressions of Interest close 8th November 2018.
Savills and CBRE have been jointly appointed to market for sale the strong performing travel centre, located at 512-514 Warwick Road, Yamanto – approximately 5km from the Ipswich city centre and 35km south west of Brisbane.
Located on a massive 1.6ha site with 126 car bays, the property consists of a brand new travel centre with 65% of the fully leased income secured by national brand tenants, including Caltex Foodary, Zarraffas, Zamberros, Subway, and Anytime Fitness.
The centre, which boasts an 8.8 year WALE, is located in a highly exposed position with 160m* frontage to Warwick Road, a major arterial road carrying over 16,000* vehicles per day and connects to the Cunningham Highway.
Savills’ Jon Tyson, Peter Tyson and Michael Harcourt and CBRE’s Joe Tynan and Michael Hedger will steer the sale process via expressions of interest.
Mr Tyson said the sale highlighted the growing appeal of travel-anchored retail assets.
“These travel centres have redefined the convenience centre model to provide a full service offering, which includes an integrated convenience and fuel store, multiple drive through food facilities, food & beverage and service-based specialty retail mix,” Mr Tyson said.
Located within one of South East Queensland’s fastest growth corridors, the centre is exceptionally placed to cater for the strong demand in retail services, supported by this population growth.
Additionally the centre will benefit from being located within close proximity to RAAF Amberley Base, which is being expanded to offer employment for 7,000 people by 2020. The centre’s tenancy mix of predominately F&B will attract and service the demand from this growing workforce.
Mr Tynan said the property represented an outstanding opportunity to acquire a high growth investment with fixed annual reviews between 3% and 4%.
“There has been very little quality stock formally offered to the market in South East Queensland, and the assets that have been offered, have been highly sought after – an example of this was the recent transaction of the Caltex anchored Eagleby Travel Centre at a yield reflecting 5.7%,” Mr Tynan said.
This asset has the added benefit of being positioned in one of Queensland’s largest residential growth corridors with a forecast with 5.5%* population growth in the trade area.
Expressions of Interest close 8th November 2018.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
