Albion Central, Brisbane’s inner north retail centre listed for sale
Albion Central, a fully leased new service and retail and medical centre boasting a 10-year WALE has been announced for sale.
The property is being sold by JLL together with Morrison Project Consulting.
JLL Senior Director and Joint Head of Retail Investments Australia, said Albion Central was of the most outstanding convenience retail centres in Brisbane’s affluent inner north.
“The freehold interest provides a secure, long term income stream, in addition to a strong capital growth outlook and long-term re-development potential.”
“At home on 2,400sqm, the centre caters to a high-profile demographic and has a tenancy mix to suit - all are on brand-new 10-year leases with fixed annual rent reviews of 3.50% or higher.
“Offering a 10-year WALE, Albion Central will provide the successful purchaser with a secure, long term income stream. Given the rental position, after 10 years the property will be producing a gross income of over $1,321,000 per annum.”
The property occupies a corner position fronting the Albion Fiveways on the doorstep to the blue-ribbon suburb of Ascot, Clayfield and Hamilton, with exposure to over 80,000 passing cars per day.
Just opened in July 2020, the centre is fully leased to seven boutique retailers, anchored by Albion Marketplace and Next Practice Medical.
Albion Central is being offered For Sale via Expressions of Interest closing September 17.
