EG First Choice Property Trust

Fully-leased retail asset

32 Anzac Ave, Redcliffe QLD

  • December 2021

    Date Acquired

  • $19,290,000

    Acquisition Price

  • 7.19 years

    WALE (at acquisition)

  • 12%

    Target IRR p.a.

EG acquired a 1,464sqm retail property located on a prime corner site adjacent to Bluewater Square Shopping Centre in Redcliffe, Queensland (approximately 35km north of the Brisbane CBD). Two businesses operate on the property, the Redcliffe Tavern (AVC operated) and First Choice Liquor (Coles operated).

The property was acquired due to the strong tenant covenant, along with the long lease term providing investors with stable cash distributions along with annual fixed rental increases.

The Trust forecasts initial distribution 7.20% p.a. and averaging 8% p.a. over the 5-year hold period. With a target 5-year IRR of 12.5%