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Interstate investor snaps up Gladstone convenience centre for $4.01 million

A Gladstone convenience centre has been sold to an interstate investor for $4.01 million in an off-market deal.

Located at 3 Shaw Street, New Auckland, the Avion Centre is anchored by IGA and Liquorland, and sold with a 7.1 percent yield.

The sale was facilitated by Ray White Commercial QLD father and son team Stephen and Elliot Kidd.

“Positioned in the inner Gladstone residential area, the property is a two level, modern shopping complex anchored by an IGA  supermarket, Liquorland and complemented by nine smaller tenants,” Stephen Kidd said.

“Built in 2008, this was the first time the Avion Centre was offered for sale, with a fully leased net income of $288,000.”

Elliot Kidd said Gladstone’s economy was seeing a boost, with assets in regional Queensland still attracting a lot of attention from interstate investors.

“Having weathered the economic impact of COVID-19  and China’s Australian coal embargo, Gladstone’s economy is beginning to gather pace with a raft of new green shoots of economic growth,” he said.

“We are often approached by owners looking to lease some final vacancies in their buildings, before putting the property to the market. Fortunately we offer a retail leasing and sale service. It’s a sensible way to maximise selling price which makes use of our extensive retail tenant database, particularly now that retail tenants are looking to expand once again.”

HIGH-RES IMAGES HERE

Media contacts: 
Stephen Kidd
Salesperson
Ray White Commercial QLD
0413 550 474
stephen.kidd@raywhite.com

Elliot Kidd
Salesperson
Ray White Commercial QLD
0407 696 738
elliott.kidd@raywhite.com

Nina Clarke
Media team
Ray White Group
0448 841 606
nclarke@raywhite.com

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