BRISBANE SHOPPING CENTRE SALE BREAKS QUEENSLAND RECORD

A SHOPPING centre in the Brisbane suburb of Warner has been sold for $78.35 million in the largest neighbourhood shopping centre deal ever recorded in Queensland.

MarketPlace Warner has been sold to an AMP Capital-managed private client mandate as part of the deal which was negotiated by JLL's Jacob Swan and Sam Hatcher.

The sale result also represents the sharpest initial yield ever recorded for a neighbourhood shopping centre in Queensland at 5.18%.

MarketPlace Warner is an established and strong performing neighbourhood shopping centre securely anchored by Woolworths and Aldi, supported by 37 specialty tenants and 4 ATMs/Kiosks.

The centre also includes the freestanding 'Brodie's Building', a Goodstart Childcare and surplus land of 4,305 square metres, a development pad site of 2,345 square metres and an adjoining strata retail tenancy.

"The centre was owned by a private family company for an extended period and underwent a significant, high quality refurbishment and expansion in 2013/2014," says JLL's national director of retail investments, Jacob Swan.

"The ownership group have chosen to capitalise on the exceptional market conditions at present for prime retail assets. Read more

Business News Australia - 5 Oct 2017

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