Two of Caboolture’s recreational landmarks, the Kings Circle Shopping Centre and Trader Dukes Caboolture, have been sold to new owners after 16 years.
According to reports, the previous owners decided to sell these assets to capitalise on the current market conditions. The new owners, however, will have the opportunity to generate strong revenues from this acquisition.
Trader Dukes Caboolture and Kings Circle Shopping Centre are located on a major arterial road leading up to the Sunshine Coast and cover 8,082 square metres.
The retail site has existing stable tenancies, which include a busy medical centre and SPAR, the local supermarket. Trader Dukes Caboolture is a fully-equipped sports bar with gaming rooms and approved EGMs, as well as a selection of bottleshops.
Savills Australia negotiated the deal off-market but did not disclose the new owners.
Recent years have seen a development boom in the area, located in the Moreton Bay Region about an hour’s drive from Brisbane. In 2016, the region’s population was 67,460 and was estimated to grow by 91,468 in five years.
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