Mackay Large Format Retail hub hits the market following $1.35 million refurbishment
A newly refurbished Large Format Retail centre anchored by three established national and chain retailers has been brought to market, offering investors a fully leased income stream and exposure to one of regional Queensland’s strongest retail locations.
Colliers’ Harry Dever and Tim McIntosh have been exclusively appointed to sell the property at 24-26 Grandview Drive, Mount Pleasant, via an Expressions of Interest campaign.
The vendor, Kinglake Group, has undertaken a comprehensive refurbishment and repositioning of the property which comprises 1,471 sqm of gross lettable area (GLA) on a 3,897 sqm freehold site and is fully leased.
Colliers Retail Middle Markets National Director Tim McIntosh said the firm’s national sales data pointed to continued investor interest in Large Format Retail assets.
“Large Format Retail continues to attract strong investor interest, with national investment volumes reaching just over $1 billion in 2026 year to date, up 12 per cent on the previous year and well above the 10-year average,” Mr McIntosh said.
Colliers Retail Middle Markets Director Harry Dever said the combination of national tenant covenants, long-term income security and the centre’s position within Mackay’s dominant Large Format Retail precinct made the property a compelling investment opportunity.
“Large Format Retail continues to be one of the most sought-after investment classes, with investors attracted to minimal management requirements, established tenant covenants and fixed annual rental growth,” Mr Dever said.
“Mackay Large Format Retail hub brings all of those fundamentals together, with 100 per cent occupancy, national and chain tenants, built-in rental growth and a high-profile corner position directly opposite Mount Pleasant Centre.
“The vendor has also completed approximately $1.35 million in upgrades, providing purchasers with a recently refurbished asset and limited near-term capital expenditure.”
The hub occupies a prominent corner position with 58 metres of frontage across three streets and exposure to more than 45,000 vehicles each day, located directly opposite Mount Pleasant Centre.
Mr McIntosh said the property reflected the investment fundamentals continuing to attract interest in established Large Format Retail assets.
“Mackay Retail hub is 100 per cent leased, with recently commenced leases providing a 7.85-year WALE and fixed annual rental increases. Established assets within core retail catchments remain highly sought after, particularly where they offer income security, limited vacancy exposure and built-in rental growth complemented by stronger income returns at market review.”
The centre generates estimated net income of $508,691 per annum and is fully leased by income and gross lettable area.
The property is being offered for sale via Expressions of Interest, closing at 4pm AEST on Thursday, 19 November 2026.
