Ferradini Property Group partnered up with a high-net-worth Australian private family to acquire this neighbourhood shopping centre for $20,100,000.
Ferradini Property Group capitalised on the strong national tenanted lease covenants as well as the property located on a highly exposed and busy Sandgate Rd. The investment acquisition included a development approved surplus land to re-develop into additional retail and medical tenant users.
Given the proximity to private day/ boarding school Nudgee College, Virginia industrial precinct and the Boondall residential catchment area, we believe the centre would attract strong demand for food lovers alike.
Ferradini Property Group recognized that most of the Tenants’ businesses in this centre were sustainable during the peak of the COVID -19 pandemic, due to the rise of online food delivery services such as Uber Eats and Deilveroo and Menulog.
The acquisition reflected a Net Yield of 4.72%.