In a show of confidence in North Queensland’s thriving commercial market, a Melbourne-based investor has snapped up a multi-tenanted retail complex in Townsville’s Aitkenvale for $2.8 million, reflecting a strong 7.06% yield.
The property, located at 258–260 Ross River Road, comprises six tenancies across two titles and boasts a net lettable area of 790 sqm*. Anchored by tenants including Sharehouse Youth Programs, Indian Aroma, and Incredible Care, the asset delivers a net income of approximately $193,742 per annum.
Strategically positioned on a six-lane arterial road with exposure to over 20,000 vehicles daily, the site benefits from proximity to key infrastructure including Stockland Shopping Centre, James Cook University, and Townsville University Hospital.
The 2,024 sqm* site was sold through Zac Edmonds and Sam Polichronis of Cushman & Wakefield and Steve Whaling of E-Property Consultants NQ and also offers 20 on-site car parks and is zoned for mixed-use, enhancing its long-term flexibility.
Zac Edmonds of Cushman & Wakefield said the campaign attracted “strong interest from interstate investors seeking secure income and regional growth upside.”
“The property’s location in one of Townsville’s busiest corridors, combined with its diversified tenant mix and proximity to major institutions, made it a compelling investment,” Steve Whaling of E-Property Consultants NQ added.
Sam Polichronis of Cushman & Wakefield said
“Townsville continues to cement its reputation as a commercial hub, with population growth, infrastructure investment, and a robust economy driven by mining, manufacturing, and defence contributing to its appeal”.
*Approx.
