Sydney investor secures Brisbane retail asset

 A fully-leased modern convenience centre in a high profile location in Brisbane’s northern growth corridor has been sold for $5.044 million.

The Anzac Avenue Retail Centre is 25 kilometre north of the Brisbane CBD.

Savills agents Jon Tyson and Michael Harcourt sold the centre to a Sydney-based private investor on a 6.94% yield.

The marketing campaign generated more than 200 investor enquiries and 10 expressions of interest.

The 2008-built Anzac Avenue Retail Centre at 1646 Anzac Avenue occupies a 3,349 square metre site and features a total floor area of 584 square metres, incorporating a dynamic mix of national and chain brand tenants including Nando’s, Sunshine Kebabs, Pizza Temptations and Baskin Robbins.

The centre also provides ground level car parking for 40 vehicles.