What’s Happening?
A fully leased retail asset at 17 Milton Street in Mackay’s CBD has sold to an interstate private investor.
The $5.1 million sale has set a new pricing benchmark for Mackay in 2026.
The deal was completed after a competitive expressions of interest campaign.
It was sold by Sam Polichronis and Jack Neumann of Cushman & Wakefield on behalf of a local owner-occupier.
The result points to stronger investor interest in regional retail assets with secure income.
Why It Matters
The sale shows private capital is still chasing well-located retail assets outside major capital cities.
Mackay’s CBD location helped drive interest, particularly because the asset sits in the city’s main retail precinct.
It is also close to Caneland Central Shopping Centre, Mackay’s largest shopping centre.
That exposure helped support buyer confidence in the property’s long-term performance.
Sam Polichronis of Cushman & Wakefield said the campaign showed strong demand from private buyers.
“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.
By The Numbers
- $5.1 million was paid for the fully leased retail asset at 17 Milton Street in Mackay’s CBD.
- 6.24 per cent was the recorded yield, making it one of Mackay’s tightest yields this year.
- More than 87 enquiries and seven formal offers were received during the expressions of interest campaign.
Local Impact
The sale reinforces Mackay’s position as a regional market attracting serious investor attention.
It also reflects confidence in the city’s CBD retail precinct.
Caneland Central Shopping Centre, located nearby, attracts more than 5 million visitors each year.
That level of foot traffic adds weight to the area’s retail appeal.
For local property owners, the result may help reset expectations around value and demand.
Zoom In
The buyer secured the asset after strong competition from other interested parties.
Cushman & Wakefield said the result reflected a shift in sentiment towards regional centres.
Population growth and economic activity were also noted as factors supporting tenant demand.
Jack Neumann of Cushman & Wakefield said the property’s core features helped deliver the result.
“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.
Zoom Out
Cushman & Wakefield said buyers are continuing to target resilient, income-producing investments outside major capitals.
The Mackay sale fits that trend, with regional CBD markets still seen as attractive compared with east coast capitals.
Cushman & Wakefield is a global commercial real estate services firm.
It has about 53,000 employees across more than 350 offices in nearly 60 countries.
In 2025, the firm reported revenue of $10.3 billion across Services, Leasing, Capital markets, and Valuation and other.
What To Look For Next?
The 17 Milton Street result may give regional retail owners a clearer benchmark for future sales.
More investors may continue looking at Mackay assets with secure leases, strong exposure, and stable income.
