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Major Sunshine Coast shopping centre up for sale in auction

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A major shopping centre on the Sunshine Coast will go under the hammer later this month and likely fetch lots of interest from interstate buyers.

The Centrepoint Market Place at 50 Bulcock Street, Caloundra will go to auction on October 28.

It has been owned by Caspadale for close to 30 years and been through many property cycles.

 

Ray White Brisbane retail investment sales agent Lachlan O'Keeffe says retail centres across have been mixed bag performance wise during COVID-19.

"But they can be a very good income stream especially being able to diversify your risk across multiple tenancies," he says.

"There's a lot of interstate people looking for these types of investment in Queensland.

"We've sold a number of shopping centres in the last six months, and I'd say 70 per cent of inquires has been interstate from NSW and Victoria, which is quite high compared to previous years."

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Mr O'Keeffe says the property will likely garner plenty of interest due to its stunning location and flexible zoning with development up to 10 storeys, pending approval from the council.

It has a site area of 2595sq m and offers multiple development opportunities including healthcare and medical, retirement living and aged care, residential apartments, short-term accommodation (serviced apartments), office and retail.

 

Images: Tempus Media.

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