Savills News

Sunshine Coast Village Shopping Centre up for grabs

A modern, single level convenience retail centre is being offered to buyers on the Sunshine Coast with a dynamic line up of retail, food and service based tenants in place. 

Jason O’Meara and Michael Harcourt of Savills have been appointed to sell Chancellor Village, located at 11-19 Chancellor Village Boulevard in Sippy Downs.

Occupying a total site area of 4,801sq m, Chancellor Village has a total net lettable area of 1,370sq m, and benefits from a WALE of just under 4 years.

Director of Savills, Jason O’Meara, said the property is located in a prominent position in the bustling commercial heart of Sippy Downs, opposite the Chancellor Tavern and Woolworths Marketplace.

“Other traffic generators within the retail precinct include First Choice Liquor, Joyce Mayne and Sunshine Toyota,” Mr O’Meara said.

Buyers will benefit from a secure income stream and guaranteed income growth of between 3% and 5% on all leases through fixed annual reviews.

When fully leased, Chancellor Village provides an incoming buyer with a net income of approximately $660,000 per annum plus GST.

“Pizza Hut is currently negotiating a new seven year lease, and anchor tenant SNAP Fitness occupy over 420sq m, and are eighteen months into a 10 year lease,” Mr O’Meara said.

Other tenants include a physio, optometrist, beauty salon, tax agent, plus various food outlets and café offerings.

Chancellor Village is located within close proximity to the University of the Sunshine Coast, and nearby student accommodation.

“This is a high growth corridor with Stockland undertaking the $5 billion 20,000 home Aura master planned Estate, and AVID Property Group developing the $3 billion 4,800 home Harmony master planned estate,” Mr Harcourt said.

New developments through Sippy Downs Drive are also underway.

Chancellor Village is conveniently located approximately 15 minutes from the Maroochydore CBD, and being offered for sale by negotiation.

Learn more about Savills Sales & Investment services.

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