258–260 Ross River Road sold for $2.8 million on a 6.90 per cent yield, with a 3.9 year WALE and comprises a fully leased retail complex spanning two titles, positioned on one of Townsville’s busiest arterial roads with exposure to more than 20,000 vehicles per day.
The 790 sqm* (Net Lettable Area) property sits on a 2,024 sqm* site with 20 on-site car parks and offers a diversified income stream across six tenancies and flexible mixed-use zoning; attributes that proved highly compelling to buyers seeking long-term income security.
Located within close proximity to major demand drivers including Stockland Shopping Centre, James Cook University, Townsville University Hospital and established residential catchments, the centre benefits from consistent foot traffic and entrenched local patronage. Its position along the Ross River Road retail corridor places it firmly within one of Townsville’s most established and resilient commercial precincts.
Sam Polichronis and Zac Edmonds of Cushman & Wakefield negotiated the deal and said buyer demand was driven by a combination of location, income profile and the defensive nature of the asset.
“We saw strong enquiry from both local and interstate investors who were very focused on assets with diversified income, high exposure and proven retail fundamentals,” said Sam Polichronis.
“This centre ticked those boxes- it’s on a major arterial road, surrounded by key infrastructure and underpinned by tenants servicing daily needs, which continues to attract capital looking beyond the major east coast capitals” he continued.
The campaign generated significant interest from private investors seeking yield-accretive opportunities in regional markets with strong economic drivers and population growth.
According to Zac Edmmonds, Townsville’s ongoing infrastructure investment, expanding health and education sectors and limited supply of comparable assets continue to support investor confidence.“The depth of enquiry reinforces that quality retail assets in regional hubs like Townsville remain firmly on the radar for interstate buyers, particularly where pricing and yield offer a clear value proposition,” he said.
