689 Nicklin Way
Address:
689 Nicklin Way, Currimundi, QLD 4551
Oct 2021
Acquired:
7,985m²
NLA:
4.85 years
WALE:
Tenants:
Sunshine Toyota (Servco) and Telstra Corporation Limited
All figures are as at Jun26
Acquired in 2021 in Trident Funds Management, this asset is leased to one of Australia’s largest Toyota dealerships, 689 Nicklin Way is primely located on the foreshore of Currimundi Lake. The improvements are a fully air-conditioned showroom of 2,350m² sitting on 7,985m² of land and is securely leased with a long-term tenant. The immediate strategy is in short-term rental reversion from a high-growing CPI rent review. This has seen an increase in the rent by 30%+ since acquisition.
The long-term strategy for this significant landholding involves the redevelopment to a hotel/leisure asset or repositioned to a larger higher-end retail premises, which will unlock a strong capital growth for investors.
