A fully leased retail asset in Mackay’s CBD has set a new pricing benchmark for 2026, with a $5.1 million sale reflecting one of the tightest yields recorded in the Mackay market this year.
The sale of 17 Milton Street to an interstate private investor, transacted at a yield of 6.24 per cent following a competitive expressions of interest campaign, underscoring the depth of private capital targeting high-performing regional assets.
The property is positioned in the heart of Mackay’s retail precinct and benefits from its close proximity to the largest shopping centre in Mackay, Caneland Central Shopping Centre, which attracts over 5 million visitors annually.
Sold by Sam Polichronis and Jack Neumann of Cushman & Wakefield on behalf of a local owner-occupier, the result reflects growing investor appetite for regional retail assets offering secure income and tightening yields, as buyers continue to target resilient, income-producing investments outside the major capitals.
Sam Polichronis of Cushman & Wakefield said the level of enquiry reflected a broad and competitive buyer pool seeking stable income streams.
“We received more than 87 enquiries and seven formal offers, highlighting the weight of private capital actively pursuing well-located retail assets in regional CBD markets where pricing remains attractive relative to the east coast capitals,” he said.
The purchaser ultimately secured the asset following strong competition, marking a shift in sentiment towards regional centres where population growth and economic activity continue to support tenant demand.
Jack Neumann of Cushman & Wakefield said the asset’s fundamentals were central to achieving a benchmark outcome.
“This was a high-profile, fully leased retail investment in the core of Mackay’s CBD, offering immediate income security and strong exposure, which resonated with buyers seeking both defensive characteristics and long-term performance,” he said.
