This article is from the Australian Property Journal archive
THE fully leased IGA Wondall-anchored Brisbane metropolitan convenience centre in Manly West is believed to have changed hands for $16 million.
The 9,712 sqm site at 190 Radford Road comprises the 1,000 sqm IGA supermarket with a new 15-year lease, as well as a BP service centre and a mix of retailers including Thirsty Camel, Pita Pit, Hoppy’s Car Wash and Super Vets.
It sold with a net income of $973,282 per annum, which would equate to a 6.08% yield, and a WALE of 7.96 years.
The corner site has a large 126-metre frontage to Wondall Road and parking for 110 vehicles.
CBRE’s Michael Hedger and Joe Tynan have handled the marketing campaign.
Australian Property Journal
