The Precinct, 42 Stuart Drive,
Idalia, QLD 4811

On behalf of the Vendor, Ray White Commercial (Qld) and Colliers International are proud to exclusively offer an exciting new direction in food retailing - The Precinct

The Precinct is a dining and retail destination underwritten by a creative mix of fresh and gourmet food, fast food and restaurant offerings. Inspired by the southeast QLD market concept of James Street, Brisbane the design and positioning is bolstered by the centers high income demographic in the adjoining Fairfield catchment and neighboring high affluent area of Annandale.

Stage 1 of the Precinct opened in 2009 and with tenants now into their second option, its acceptance and tenancy mix has gone from strength to strength. The Precinct’s trading success has been helped by the market look and feel. The tenant mix is different and focused principally on a diverse, quality food mix, anchored by a unique Fresh Food Hall offering which acts as the principal draw card and which has underwritten some 25% of the property income over the past seven years appealing to the new health conscience generation. Seven open plan, fresh food small businesses provide personal service, direct marketing and gourmet food expertise as a means to distinguish themselves from their traditional supermarket opposition in one unique fresh food hall offering. The Precinct is a recognized food destination across Townsville.

The Precinct forms an integral part of the master planned Fairfield Waters residential estate. Strategically positioned beside a GP Super Clinic and opposite Townsville’s principal sporting fields, the Precinct has a strong lunch, evening and week-end trade.

Electronic media (Face Book/Emails) form a major component of the Precinct tenant’s marketing thrust with high income family, DINK and single adult demographics forming the target customer base.

The subject investment property offers:

– A proven food based centre with the majority of tenants complimenting and supporting one another;
– A unique Food Hall offering as the ‘anchor’, underwriting approx 25% of the centre’s income, providing
annual income growth and acting as a significant point of retailing difference and attraction;
– A tenant mix which is very targeted to its’ demographic audience;
– A WALE of 3.53 years;
– A stable tenant history since the first stage opened for business in 2009;
– Exposure to a busy arterial road and a growing population base;
– Major traffic generators in the trade area include several schools; the Lavarack Army Barracks; the Murray Sporting Complex; the GP Super Clinic; James Cook University; Fairfield Waters Estate and the RAAF Base;
– Exposure to a vibrant local economy with some $1 billion of public funded projects currently underway and a further $3.3 billion of residential development spread across some 20 estates.

Please contact either of the joint agents:

Neville Smith
M 0438 765 087
E neville.smith@colliers.com

Stephen Kidd
M 0413 550 474
E stephen.kidd@raywhite.com