Townsville’s North Ward Shopping Village hits the market

North Ward Shopping Village, one of North Queensland’s top performing neighbourhood shopping centres, has been listed for sale.

CBRE’s Joe Tynan, Michael Hedger and James Douglas have been exclusively appointed to manage the sale.

Located at 26-28 Mitchell Street in North Ward, in Townsville’s tightly held and affluent eastern suburbs, the asset features a high performing Coles supermarket, 23 specialty shops and a McDonald’s pad site.

A key feature of the asset is the Coles supermarket’s sales performance which sits at around 20% above industry benchmarks and is paying percentage rent. The productivity of the asset’s specialty profile offers average sales of $15,780/sqm, representing a Gross Occupancy Cost  (GOC) of 2.4%.

Mr Tynan said, “We expect North Ward Shopping Village to be highly sought-after asset due to its dominant trade area presence, Coles’ income growth, and genuine future value add opportunities.”

Mr Douglas noted, “The strategy of buying the best asset in a regional town has long been a successful approach by astute investors. North Ward Shopping Village is such an opportunity, with genuine income growth potential across the entire tenant profile.”

Strategically located on a land-rich 1.7ha site, the centre enjoys a prime position within its trade area. It is the only full-line supermarket in the area with restricted opportunities for future competition insulate the asset.

Located 1km from the Townsville CBD, the centre is set to benefit from a growing population, supported by a 4.1% p.a. retail spending increase to $742.7 million by 2046.

The centre benefits from a4.0-year WALE (by income) and comprises a specialty mix of national and chain retailers, who are outperforming industry standards while paying rents that are 40% below market averages, offering clear potential for future rental uplift.

The Expressions of Interest Campaign closes Thursday October 16th, 2025.