Helensvale Park Neighbourhood Shopping Centre offered for sale by expressions of interest
Gold Coast commercial real estate is set for unprecedented growth as the economy and population booms! Much has been spoken recently of the fringe areas, Pimpama one of many examples featuring prominently in the news due to lavish construction projects and council investment. The pitched of developers and council protagonists one would easily lose sight of the Gold Coasts defining suburbs, and this offering is set to encapsulate the prospective growth of the Gold Coast.
Helensvale is now regarded largely due to its union of light rail to heavy rail as one of the Gold Coasts great crossroads but there are many other reasons to view the suburb with an air of nostalgia, and its pivotal role in the Gold Coast’s economic endeavour. Today the suburb is home to 16,862 residents (2016 census) and is also the linking point of the Gold Coast Highway to the M1 via the Smith Street motorway. All roads and rails would seem to lead through it.
The subject property Helensvale Park opened its doors in 1985 when the suburb was in its infancy. In the 1870’s it was home to a large sugar plantation with five European and 32 Pacific Islander workers living on the property. By 1905 it had its own railway stop. Development didn’t start until 1970 with a master plan for the suburb to accommodate 10,000 people. It wasn’t until 1990 that Helensvale had obtained its own primary and high schools. Griffith University campus is also located in Helensvale. In 2005 the majority mall enclosed Westfield shopping centre opened, a short but secure 2km away.
Of course the Gold Coast has a very different centre-point in 2020 but with the re-alignment northwards and surging population growth Helensvale is certain to retain its long established role as the transit point of the region. It is geographically pivotal for access to the affluent suburbs north at Hope Island and Sanctuary Cove. Helensvale itself features its own Gold Coast, Aquatic Centre, and while not home to the themeparks is the closest landmark of note. Southport airport, Labrador and Runnaway Bay its closest neighbours to the east.
The residential make up of Helensvale mirrors its deep history made up by a tapestry of planned estates, townhouse and unit complexes, and single dwelling blocks. One only need a short tour around the site to learn that its residents are a make up of what makes the Gold Coast such a vibrant place to live. There is a seniors home at one end and day care directly next to the property. Helensvale park calmly proclaims itself as local shop to all and sundry living in the area providing an available catchment of shoppers to the centre and contributing steady traffic flow.
The maturity of the complex also ensure roots to many of its anchor tenants. St Vincent De Paul’s society has called this centre home for at least 15 years and have just resigned new 3 year lease plus 3 year option. Doctors@Helensvale offer bulk billing and demonstrate the viability of a medical facility in the centre opening door to possible areas of future development and growth. The convenience store has recently added a line of fresh fruit and veg providing a much needed “Local Grocer” to the area as well as revitalising daily trade in the complex. 3 restaurants of various ethnicities, a long standing hairdresser, and massage shop make up the balance of the tenants. One shop remains available to lease to suitably complimentary tenant.
The holding income of the complex offers an exceptional return of above 7% gross. Holding costs have been kept low by conscientious management, though opportunity exists for improvement. The land size is an inspiring 2,991sqm with a lettable area of 794. There is parking for 52 cars, though 2 have been allocated for ambulance parking and the use of the medical centre. This has not posed an issue for public access. We trust this document and our discussion can be of assistance in your considerations towards the purchase of this wonderful complex.