Flux flicks mall for record yield
Flux Property Group has sold the IGA-anchored Dockside Village, in Pelican Waters, which opened early this month.
The off-market deal for 1 The Basin, with a local couple, is worth $13.46 million reflecting a 5.66 per cent yield.
With 1578 sqm, the supermarket is committed for an initial 15 years.
It presently contributes to 80pc of the income.
With options, it can stay until 2049
Combined with two specialty tenants – occupied by Cellarbrations and Sushi Art – and a dog wash, the centre’s weighted average lease expiry by area is 14.1 years (story continues below).
The site also contains 47 car parks.
The yield is, according to agency sources, the lowest for an IGA-backed asset in south east Queensland.
Pelican Waters is about 20km south of the Sunshine Coast.
Subscribe to our newsletter at the bottom of this page.
