19 Gill St 5,619 SF Retail Building Charters Towers City, QLD 4820 $910,326 ($162.02/SF) 7.31% Cap Rate

A rare flagship investment opportunity in North Queensland, this freestanding commercial property underpinned by Westpac Banking Corporation combines security, long-term income, and outstanding location credentials in the heart of Charters Towers CBD.
The property presents an income-generating asset with a premier national covenant, featuring a renewed three-year lease to October 2028 and options extending through to 2043. Westpac is one of Australia’s “Big Four” banks and a top ASX-listed corporation with a market capitalization of approximately $100 billion AUD, providing investors with exceptional covenant strength and stability.
The improvements include a ground-floor banking chamber offering traditional customer service areas, while the upper level comprises staff amenities and a self-contained four-bedroom manager’s residence totaling approximately 120 m² plus two private balconies. The total building area spans 522 m² on an 862 m² high-profile corner allotment. Offering a net lease with minimal landlord obligations and a current net income of approximately $95,075 per annum plus GST, this asset delivers an attractive, low-maintenance investment.
Strategically positioned in Charters Towers CBD, the property enjoys strong pedestrian and vehicle activity and is surrounded by government offices, essential services, retail, and professional firms. This is a tightly held asset class in a highly resilient regional economy, representing an exceptional “set and forget” investment.