Ray White Commercial (Qld) is proud to have been appointed to sell one of Queensland's superior convenience retail offerings for 2020 - Bridge Street Plaza. This is arguably a never-to-be repeated Aldi anchored convenience centre. Located in the booming western growth corridor of Toowoomba (170,000 residents), Aldi's superior trading performance will be backed by a solid non-discretionary offering of seven food and services orientated specialty stores and a small kiosk.
Modest specialty rents and outgoings will allow for solid future income growth while the new Aldi anchor tenant underwrites some 40% of the base rental income.
Aldi is a major price discounter and the substantial savings offered by shopping in a new generation, large format Aldi supermarket will definitely appeal to the trade area's rural & regional middle income demographic. Bridge Street Plaza's Aldi is trading above expectations and the owners are very excited to have Aldi as an integral part of Bridge Street Plaza's rejuvenation and re-positioning.
Located on the western edge of Toowoomba, Bridge Street Plaza is exposed to 20,000* vehicles every day travelling along the Warrego Highway, leading to and from western Queensland towns, the oil/gas fields, and further onto Brisbane. The new Toowoomba second range crossing recently opened and this is feeding exponentially more vehicles into this residential corridor, pushing vehicles along Boundary Road and right to Bridge Street Plaza.
Some 30,000 residents are already housed within a 10 minute drive from Bridge Street Plaza and 1,500 new residential lots have also been approved in close proximity.
Toowoomba continues to experience a substantial employment and population boost with some $13 billion of infrastructure recently completed or scheduled for construction. Bridge Street Plaza is exceptionally well positioned in the growth hot spot of Toowoomba West, forecast to experience a growth rate of 131% between 2016 and 2031.
Asking Price $11.25 million.
For a copy of the IM or DD package, please contact Stephen Kidd.
*approximately