Three Padella Gardens retail holdings sold in one line

The Gardens Riverside Retail Portfolio at 28 Duncan Street in West End has been sold for $1,850,000. 

Offering 232sqm of NLA with a 3 year WALE, the sale represents a net initial yield of 7.60 per cent for the property in the lively inner-city suburb. 

The deal was negotiated by JLL’s Andrew Havig, and Sam Byrne. 

Featuring three leased retail tenancies in NightOwl, Table 26, and JLL, the property is situated on the ground floor of the Pradella Gardens residential tower within the Riverside West End precinct, walking distance from the Brisbane CBD. 

There was strong interest in the property according to JLL’s Andrew Havig. 

The successful purchaser was a NSW-based private investor. 

Another attractive aspect to the sale was the long-term secure cash flow underpinning the offering, as well as the fact that it is currently 100% occupied.