Coles-anchored neighbourhood shopping centre Waterford Plaza in South East Queensland has been put up for sale.
According to CBRE, the centre boasts 6295sqm of gross leasable area, 40 per cent of which is secured by a strong trading Coles Supermarket. Other tenants include a drive-thru pad site, a Childcare Centre, and 30 specialties.
Fully leased net income was approximately $2.96 million per annum as of October 1. The weighted average lease expiry is 4.2 years, with a majority of specialties secured by favourable net leases, ensuring future income growth.
The centre is located 27km southeast of Brisbane’s CBD, in the fastest-growing local government area in Queensland, with an annual population growth rate of 4.1 per cent.
The property is prominently situated on a 2.34ha corner site with dual street access and direct exposure to over 11.14 million cars annually.
The sellers will accept expressions of interest for the asset until 4 pm on October 15.
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