Hervey Bay shopping centre hits the market

The Eli Waters Shopping Centre in the Queensland town of Hervey Bay has hit the market.

It is anchored by a 3,757 square metre full-line Woolworths supermarket, secured on a 20-year lease until September 2027 plus options until 2047.

It also features 23 specialty shops, one kiosk, four ATMs and one DVD kiosk.

The centre has a gross lettable area of 6,338 square metres and it is located at 2 Ibis Boulevard at the intersection of Maryborough-Hervey Bay Road, a major arterial route from Maryborough and the areas west of Hervey Bay.

It is being marketed for sale by Peter Tyson and Jon Tyson of Savills with offers closing 6 April 2017.

Tyson said the centrebenefits from a population of over 38,000, forecast to grow to 50,000 plus by 2013.

“The centre is arguably the most convenient food and service offer in Hervey Bay with ample grade level parking, a simple retail layout featuring two mall entries and excellent exposure,” he said.

“With the strong ongoing demand in the neighbourhood shopping centre asset class, we expect a high level of investor interest in this opportunity due to its quality tenancy profile and large, fast-growing catchment.”

Hervey Bay is on Queensland's Fraser Coast, approximately 290 kilometres north of Brisbane.