Retail centre in Goodna sold to Melbourne investor

Retail centre in Goodna sold to Melbourne investor
Retail centre in Goodna sold to Melbourne investor

The Repco and Cash Converters retail outlets in Ipswich's Goodna has been sold for $4.15 million to a Melbourne investor.

The property, 179 Brisbane Road is fully tenanted on five year terms. It last sold in 2006 at $3.1 million.

It was put up for sale by its New Zealand based vendor in March last year.

Richard Blanch of Colliers International said there were a number of challenges with attracting offers of an acceptable level for the vendor, particularly the stigma around the 2011 flood.

“Everyone is acutely aware of the effect the flood had on Goodna, but what a cursory glance doesn’t show is the faith both tenants have in the location," he said.

“The Goodna store is one of Cash Converters’ strongest performers and both tenants re-signed long term leases post the flood.

“Few sites in Goodna offer the same sort of branding exposure to the Ipswich Motorway. This along with the tenants’ faith in the catchment, it gave the purchaser comfort to transact."

Tags: 
Commercial Sale Goodna

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