The Eli Waters Shopping Centre, prominently located at the entrance to Hervey Bay, has been placed on the market for sale.

The property is anchored by a strongly trading Woolworths Supermarket and is the dominant shopping centre servicing an expansive main trade area.

It is being marketed for sale by Peter Tyson and Jon Tyson of Savills via an Expressions of Interest campaign closing 6 April 2017.

Peter Tyson said Eli Waters Shopping Centre benefits from its strategic gateway location as the first retail centre passed by traffic entering and leaving Hervey Bay. It also directly adjoins a freestanding Harvey Norman and Forty Winks store.

“Eli Waters Shopping Centre is the only Woolworths-based supermarket centre in the main trade area and is conveniently located to service the needs of the fast-growing local population, including a number of new and proposed residential sub-divisions. The centre is arguably the most convenient food and service offer in Hervey Bay with ample grade level parking, a simple retail layout featuring two mall entries and excellent exposure.”

“With the strong ongoing demand in the neighbourhood shopping centre asset class, we expect a high level of investor interest in this opportunity due to its quality tenancy profile and large, fast-growing catchment.”

The Eli Waters Shopping Centre features a gross lettable area of 6,338sq m anchored by a 3,757sq m full-line Woolworths Supermarket. Woolworths is secured on a 20-year lease until September 2027 plus options until 2047.

The centre, which also features 23 specialty shops, one kiosk, four ATMs and one DVD kiosk, is prominently located at 2 Ibis Boulevard at the busy intersection of Maryborough-Hervey Bay Road, the main arterial route from Maryborough and the high growth areas west of Hervey Bay.

It services an expansive catchment embracing some of the strongest growth areas in Hervey Bay. The main trade area population totals over 38,000 and is forecast to grow to over 50,000 by 2013.

Eli Waters Shopping Centre is located within the Hervey Bay City area on Queensland's Fraser Coast, approximately 290km north of Brisbane, at the gateway to the World Heritage Listed Fraser Island and Southern Great Barrier Reef.

Learn more about Savills Retail Investments.