Top yield for shop
A ROBINA shop — with a long-term lease in place to MyFootDr — has sold at auction for $1.13 million on a 6.62 per cent yield.
The 125sq m unit at 11/195 Ron Penhaligon Way was offloaded by Choung Family Pty Ltd, which acquired the property for $920,000 in 2002.
The shop is located at the Robina Village Shopping Centre, which is anchored by an IGA supermarket.
It sold with a five-year lease in place to podiatry business MyFootDr, which has 50 clinics in Australia and Asia.
The tenant pays $67,080 net annual rent and there are 4 per cent fixed rental increases for each year of the lease.
The property featured at an auction held by Burgess Rawson in Sydney earlier this month.
Marketing agent Glen Conridge said prime retail properties continue to attract attention from investors.
“This investment is situated in a central, prime retail position within an established residential base,” he said.
“There has been some big developments in Robina during the past year.
“Combined with its proximity to Gold Coast Airport and a new rail line in the works to Helensvale, it’s no surprise investors are buying in Robina.”