Case Studies

IGA Marketplace Ascot

Sale Details
$12,100,000 | 4.88% | 314 Enquiries
Property Overview
IGA Marketplace Ascot is a freestanding single tenanted supermarket, located in the heart of the prized Brisbane suburb of Ascot.
The asset is leased to experienced supermarket operators HG Retail on a brand new 20-year whole of land net lease. The store underwent a multi-million dollar refurbishment in 2022 creating a state-of-the-art offering.
Transaction Commentary
Since the rate rises began in May 2022, this is the lowest yield achieved for a supermarket anchored transaction in Queensland. A total of 314 enquiries were fielded from local, interstate and off-shore, resulting in 9 registered bidders.
Together with the reach of the broader Ray White network, the asset was the most viewed investment in Australia to date in 2023 (according to Commercial Ready). This is a prime example of how much demand there is from private investors seeking ultra-defensive assets despite the increased cost of debt and impacts on borrowing capacity.