Kirwan complex to attract strong bids
A TOWNSVILLE shopping centre with Pizza Hut, Subway, NightOwl, Burrito Bar, Second to None Nutrition and Rajah Kebab could be about to get a new owner.
The Kirwan shopping centre, expected to be worth $ 6 million, has been put on the market in what is being called a “rare situation”.
Located on the corner of Thuringowa Dr and Charles St, it’s being sold by its private Townsville owners.
Colliers International Australia commercial and industrial associate director Neville Smith said the owners were testing the market on the back end of positive results of other retail centres being sold around the country.
An expression of interest campaign has been launched for the eight- tenancy centre which Mr Smith called one of the “most dominant retail convenience centres in Townsville”.
He said its location in Townsville’s largest residential catchments, and within short walking distance to both the Kirwan State High School and Kirwan Primary, were key strengths for the centre.
“It has a fully leased net income of $ 516,000 and is worth approximately $ 6 million,” he said.
The campaign was launched last week and Mr Smith said there had been strong interest from investors around the country.
“We’ve already had 47 inquiries and there is strong interest in the centre,” Mr Smith said.
Mr Smith said more than 30,000 cars passed the centre every day.
The expression of interest campaign will wrap up on November 7 if not sold before.