Central Queensland Retail Investment
A retail investment with substantial expansion upside and anchored by a town centre hub in the Central Queensland mining services centre of Dysart, is being offered for sale through Ray White Commercial.
The Dysart Garden Plaza and Town Centre is being marketed by Stephen Kidd and Elliot Kidd of Ray White Commercial (Qld) and represents a unique opportunity to buy a secure investment property with substantial development and rental upside.
Stephen Kidd said: “The Dysart Garden Plaza and Town Centre is an integrated commercial hub on a site area of approximately 4.4hectares and comprising a Cornetts IGA anchored shopping centre with 26 tenancies, a multi-level strata-titled modern accommodation precinct and a substantial land bank for future expansion.
“First opened in 1977, Garden Plaza is the commercial and retail heart for the town of Dysart, which continues to benefit from Queensland’s resources sector and which is poised to capture population growth from further expansion in the coal sector.
“Substantial growth in nearby mining activities will continue to stimulate demand for further retail and residential accommodation in Dysart.
“The BHP Billiton Mitsubishi Alliance currently proposes to expand the Saraji Coal Mine and employing an extra 1500 staff. These high income employees will all require additional accommodation and access to an expanded and upgraded retail offering. The four mining camps in Dysart are currently operating at around 50 per cent capacity with approximate 6,000 fly in, fly out (FIFO) residents. At full capacity, these camps can accommodate some 13,000 residents as demand continues to grow once again for thermal and metallurgical coal.”
Elliot Kidd said the shopping centre offers a gross lettable area of approximately 3,518 sqm while there are also six 3 bedroom units located on Shannon Crescent for sale.
“The offering also includes several parcels of land zoned future expansion,” he said.
“The opportunity exists to build a service station and expand the commercial component; expand the shopping centre, include a mixed-use multi-level complex comprising 78 apartments and a Business Centre.
“The proposals also include a new drive through fast food drive-thru.”