Kir­wan com­plex to at­tract strong bids

Townsville Bulletin - - NEWS - AN­DREW BACKHOUSE

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.

NEW OWNER: The Kir­wan shop­ping cen­tre is ex­pected to sell for about $ 6 mil­lion.

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