Mudgeeraba market fetches $35.8m

MUDGEERABA Market has sold for $35.8 million to listed mall owner SCA Property Group. The property, which was offered with the much smaller Franklin Centre, was sold by companies Maxivista and Koms, which are associated with Terrence Herbert, Anthony Herbert and David Dodd.

Mudgeeraba Market was acquired for $9.5 million and Franklin Centre for $2.6 million in 1997 by the companies.

The Woolworths-anchored Mudgeeraba Market occupies a 1404sq m block at 60 Railway St.

Tenants include eateries, speciality stores as well as law and accountancy practices and an estate agency.