Metcash list shopping centre for sale on Sunshine Coast

Noosa Junction Plaza, a shopping centre in Sunshine Coast's Noosa Heads, is on the block.

Noosa Junction Plaza is set on a 7,904 square metre corner gateway site in Noosa Heads with a total gross lettable area of 5,090 square metres.

It has an annual net income stream of more than $1.35 million. 

The shopping centre is at the corner of Sunshine Beach Road and Noosa Drive, Noosa Heads is on the northern tip of the Sunshine Coast. 

The modern, fully enclosed shopping centre is anchored by a Prince’s SUPA IGA supermarket, a Target Country store and Sogo Irish Pub. The basement parking accommodates 220 vehicles.

“The retail investment market in Queensland has seen enormous yield compression over the last two years, with the most sought after asset class on investor wish lists being neighbourhood retail," said Peter Tyson, one of the agents of Savills Retail Sales, which is managing the sale with Sashi Makkapati and Nicholas Potter of Cushman & Wakefield, on behalf of Metcash.

According to the National Visitor Survey and the International Visitor Survey, Noosa had more than 2.1 million visitors in the year ending September 2015, spending more than $869 million which is expected to rise to $1 billion by 2016.

Offers close November 12.