Coles-Backed Hotel Freehold Investment
126 Wood Street, Mackay QLD
Property Highlights
Description
Long term lease to 2028 plus five x 10 year options.
Tenant: Queensland Venue Co. is 50%-owned by Coles Group and is one of the largest hoteliers and liquor retailers in Queensland with 76 hotels and 243 liquor stores across the State, trading under the Liquorland, First Choice Liquor, First Choice Liquor Market and Vintage Cellars brands.
Iconic pub, established 1936 and recently upgraded by the tenant, with gaming machines and large Liquorland drive-thru.
Strategic 1,287 sqm corner site with 69 metre frontage.
Prestigious CBD location opposite CQ University (approx. 4,645 students) and Coles, ANZ, McDonald’s, Nissan, Subaru, Mitsubishi, Mercedes Benz and Honda all within 300 metres.
Tenant pays land tax, council rates, water rates and building insurance.
Mackay: commercial hub of the Whitsundays, regional population of approx 174,000 with forecast 32% growth by 2041**.
Projected net rent as of 1st December 2019: $277,689 pa***.
For Sale
**QLD Government
***Projected rent for the year commencing 1 December 2019, assuming CPI increase of 1.7% for quarter ending 30 September 2019. Projection based on June Brisbane All Groups CPI (as September not yet available).
Property Details
Price
$3,950,000