A convenience shopping centre in one of Australia’s fastest growing catchments is up for auction.

The East Caboolture Village, located at 22-28 Rowe Street, is being brought to market by RWC Retail’s Pablo Routledge, Michael Feltoe and Lachlan O’Keeffe on behalf of a private fund manager.

Situated halfway between Brisbane and the Sunshine Coast, East Caboolture Village is the definition of a convenience centre with 41 on-site car parks and a national grocery anchor.

The 1,167sqm single-level centre is anchored by Friendly Grocer to 2031, and benefits from a 3.73 year WALE.

The centre has an estimated fully leased net income of $485,584 + GST, with the majority of tenants on CPI annual increases, which Mr Routledge said would be highly sought after.

“This shopping centre has all of the key criteria you could want in convenience retail,” he said.

“A high-profile corner landholding, significant onsite car parking, national anchor and with significant catchment growth potential.”

Ideally positioned on a 3,221sqm corner site, the centre is situated in the heart of the Caboolture growth catchment, one of Australia’s fastest growing regions that is projected to nearly double its population to over 150,000 residents in the coming decade.

“In terms of future growth, this is one of the best catchments in the country where you could hope to own a shopping centre,” Mr Feltoe said.

“It is evolving into a major satellite city and is experiencing significant inflows of new residents”.

East Caboolture Village is for sale via auction on Friday, February 28.

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