Property investment firm Kyron Capital has put its Tweed Mall location, south of the Gold Coast, on the market with the help of McVay Real Estate and Colliers.
The 23,420sqm sub-regional shopping centre is anchored by Coles, Woolworths, Aldi and Target, along with more than 55 specialty retailers and kiosks. Colliers says its occupancy rate is now at 97 per cent following a successful leasing programme.
“Tweed Mall is an exceptional asset that delivers a highly sought-after triple-supermarket, convenience-led sub-regional centre alongside a genuine large-scale redevelopment opportunity,” said Sam McVay of McVay Real Estate.
“This will appeal to retail owners, developers and land bankers.”
The NSW shopping centre sits 350 metres from the Queensland border, and around 25km south of the Gold Coast CBD. The estate agents touted its transport links with the Gold Coast and trade area of around 120,670 people.
“Tweed Mall represents an excellent retail turnaround opportunity with low in-place specialty rents at 45 per cent below the benchmark, backed by strong performing majors,” added Lachlan MacGillivray of Colliers.
“The centre services a rapidly growing demographic region that will see the benefit of continued infrastructure upgrades in the lead-up to the Olympics.”
National tenants represent 87 per cent of the centre’s gross lettable area and a weighted average lease expiry of 3.5 years by income, Colliers said.
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