Retail

City Lane & City Arcade, Townsville QLD

383 Flinders Street Townsville City, QLD Australia 4810
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Attributes

Year Built 2000
Building Area Gross
Land Area Gross ()
Occupancy 100.0 %

Asset Description

JLL is pleased to offer for sale a 100% freehold interest in City Lane & City Arcade, Townsville's first creative laneway precinct offering future development potential in the heart of the CBD.

Investment Highlights

  • Long-term cash flow security underpinned by 100% occupancy and strong 9.0-year WALE (area)
  • Majority of tenant leases structured on a favourable net basis with strong fixed annual reviews between 3.00%-4.00%
  • Expansive 8,625sqm site within rapidly expanding Townsville CBD
  • Significant value-add potential, underpinned by desirable Principal Centre Zoning and exsiting development approval
  • Prime fully leased complex with 65% of centre GLA underpinned by long-term leases to Woolworths and James Cook University
  • Large focus on non-discretionary retail, with over 70% of gross income underpinned by essential service tenants
  • Direct beneficiary of the council’s revitilisation program - set to add 30,000 people both living and working in the city by 2030
  • Fully Leased Net Income of $2,920,511

Expressions of Interest closing Wednesday 13th April 2022 at 4:00pm (AEST)


All information approximate and as at 30 June 2022

Last Updated Date: 16 Mar 2022

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Last Updated Date: 16 Mar 2022

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