Brought to market by Ray White Commercial QLD agents Lachlan O’Keeffe and Michael Feltoe, the vibrant shopping arcade is expected to attract considerable national attention with its unique single head lease offering. 

Located at 3-11 Illuka Street, Currajong, the property’s diverse tenancy mix is all operated under a single 12-year head lease to Otto’s Market generating an annual net income of $615,501.

“This single head lease - with an option to 2036 - allows the bespoke supermarket operator, Otto’s, to take responsibility for the centre and its success, while providing a passive hand’s-off income stream to the incoming investor for years to come,” Mr O’Keeffe said. 

“This is a fantastic opportunity to acquire a truly passive investment, underpinned by what I think is a forward-thinking model that will shape the way independent supermarkets are offered in the future.”

Located less than 5km from both the Townsville CBD and airport, Otto’s is situated on a prominent 5,340sqm* site, with the centre providing 103 on-site car parks enabling the market’s Townsville-wide customer base easy access to the centre. 

For Mr Feltoe, all of these elements will add up to an outstanding result come auction day.

"The regional Queensland retail market has experienced yield compression similar to that in major capital cities, as investors continue to seek retail properties with strong underpinning fundamentals such as location, the tenant and the length of the leases,” Mr Feltoe said. 

“Otto’s have proven their business model here at Warrina for over 40 years and the site offers all three of the key fundamentals for a passive investment, so I think that will provide a lot of confidence for any prospective purchasers.” 

The property will be sold at Ray White Commercial’s national portfolio auction on Thursday, May 19, at 10.30am. 

To request a copy of the Information Memorandum please contact one of the marketing agents Ray White Commercial QLD agents Lachlan O’Keeffe and Michael Feltoe via the contact details below.