Smorgon family list Queen Street Mall retail holding with $100 million hopes

Smorgon family list Queen Street Mall retail holding with $100 million hopes
Smorgon family list Queen Street Mall retail holding with $100 million hopes

The Melbourne-based Smorgon family have listed their retail holding on the Queen Street Mall in Brisbane.

It has been dubbed Brisbane's best retail corner.

The property reportedly could fetch up to $100 million. There was a fully leased net income of $4.46 million per annum.

The Smorgon family have owned the property for 27 years.

It recently signed McDonalds for a 10-year lease with two 10-year options, becoming the biggest McDonalds in the southern hemisphere.

Norman Smorgon and his wife, Tania, are the key Smorgon family members in the holding company Vesco Nominees.

The 3771 square metre property includes the 853sq m McDonald's as well as an 801sq m Showgirls, plus fashion store Forever New and UGG Shop, a Money Exchange, Gellatissimo and a Suncorp bank.

 
Tags: 
Brisbane Retail

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