Shopping centre up for grabs

Good street presence with 10 separate retail tenancies at more than 90% leased

A RETAIL investment comprising of seven diverse tenants is going under the hammer, presenting buyers with an opportunity to secure a piece of prime Sunshine Coast real estate.

Located at 2-4 Melaleuca Street in Kuluin, the single-level retail complex boasts a strong income stream from a variety of tenants with an estimated net income of approximately $88,642 per annum.

The property is being offered for sale via public auction on-site on Friday, February 16, at 4pm by exclusive agents Will Carman of Savills, and Diana Davidson of That Place Property.

Mr Carman said the current owner is looking to free up some finances and is very motivated to get a result at or before auction day.

"Enquiry levels have been strong, and there has been a lot of genuine interest," Mr Carman said.

The property is subject to a high level of exposure from passing traffic, with the corner allotment offering the prospective buyer a secure investment in a prime location.

"This type of opportunity does not present itself very often, but when it does, it is usually very hotly contested,

"The Sunshine Coast is going forward in leaps and bounds which has resulted in solid interest for the region," Mr Carman said.

The property currently is currently 93% occupied, with Mr Carman describing the last vacancy as a massive plus for the incoming owner.

"The property would be suited to an investor with a sense of proactive nature, who is willing to get the tenant mix correct and lift the rentals to market value over a period of time," Mr Carman said.

KULUIN

2-4 Melaleuca Street

What: Single-level free-standing retail investment, 10 separate retail tenancies on 2381sq m

Features: Great street presence and exposure. Seven tenants in place, two tenants occupy two tenancies. Ample off-street car parking with drive-through access. Local Centre zoning

Price: Public auction on site Saturday, February 16, at 4pm

Agent: Will Carman at Savills Sunshine Coast, Diana Davidson of That Place Property

Contact: 0477 666 355

Originally published as Shopping centre up for grabs