Showroom
530 Yaamba Road Norman Gardens Qld is tenanted by AMart Furniture. The property has prominent Yaamba Road (Bruce Highway) frontage, Yaamba Road stretches 37km from North Rockhampton to Yaamba.
The property comprises a “Specialised Centre” zoned large commercial inside allotment frontage to a section of the current Bruce Highway in a busy commercial and retail precinct in the North Rockhampton suburb of Norman Gardens, on the northern fringe of the Central Queensland city of Rockhampton.
The site is leased to AMart Furniture Pty Limited (AMart), which is ultimately owned by BBQSam Holdings Pty Ltd, which in turn is owned by a consortium of private equity parties. The lease commenced on 09/06/2021 and has a term of 8 years, expiring on 08/06/2029 with a 1 x 5 year option.
The combination of this prime location, with medium-term income and an attractive cap rate, makes this an attractive purchase for the Fund.
Financial Information:
Disclaimer: Information provided about forecast annual net cash flow and cash on cash returns are derived from unaudited financial projections. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Responsible Entity. The Responsible Entity cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
| Property type | Showroom |
| Date acquired | 16/12/2024 |
| Land size | 1.16Ha |
| Building size | 5,054m² |
| Purchase price | $12,300,000 |
| Independent valuation | $12,300,000 |
| Capitalisation rate used by Valuer | 8.25% |
| Valuation date | 13/11/2024 |
| Occupancy at purchase date | 100% |
| Financing | All cash purchase |
| WALE (Lease Expiry) | 4.0 years |
| WALE (Income) | 4.0 years |
| WALE (Lettable Area) | 4.0 years |
The weighted average lease expiry (WALE) is as at 1 March 2025 on the basis of the property as a standalone acquisition, not its weighting in the Fund’s total portfolio. More recent information about the the Fund’s portfolio can be found here.