A RARE retail investment in Lennox Head has been listed for sale, marking the first commercial property offering in the town since early 2022.<\/p>\n
Located at 63\u201365 Ballina Street, the Lennox Central complex includes six tenancies across eight shops on an 895sqm site in the town’s main retail and tourism precinct.<\/p>\n
The expression of interest campaign is being managed by Colliers Northern NSW agents Kye Ward and Louis Young.<\/p>\n
Ward said demand for retail assets in Lennox Head had grown alongside the town’s population.<\/p>\n
“This beachside flagship retail investment offers the market an exceptional opportunity to acquire a strategically located freehold property in one of the Northern Rivers’ most prestigious coastal townships,” he said.<\/p>\n
The centre is currently 88 per cent leased and has a projected net income of $296,561 when fully tenanted.<\/p>\n
Tenants include a real estate agency, a restaurant and food outlets.<\/p>\n
Young said there had been few opportunities for buyers in the region this year, with the last major sale being a Ballina retail centre in December.<\/p>\n
“In light of the scarcity of opportunities and the quality of this asset, we expect a significant level of interest from local and interstate investors,” he said.<\/p>\n
The property has a 2.8-year weighted average lease expiry by income.<\/p>\n
Expressions of interest close at 4pm on Wednesday, June 18.<\/p>\n","protected":false},"excerpt":{"rendered":"
A RARE retail investment in Lennox Head has been listed for sale, marking the first commercial property offering in the town since early 2022. Located at 63\u201365 Ballina Street, the Lennox Central complex includes six tenancies across eight shops on an 895sqm site in the town’s main retail and tourism precinct. The expression of interest […]<\/p>\n