Money chas­ing shop­ping dol­lar

Townsville Bulletin - - NEWS -

A RARE of­fer­ing of two wellestab­lished neigh­bour­hood shop­ping cen­tres at Townsville and Char­ters Tow­ers is forecast to at­tract strong in­ter­est from in­vestors.

Ris­ing Sun Shop­ping Cen­tre in Townsville and the Town Plaza Shop­ping Cen­tre in Char­ters Tow­ers are set to be of­fered to the mar­ket by Peter Tyson and Jon Tyson of Sav­ills Re­tail Sales in an ex­pres­sions of in­ter­est cam­paign clos­ing in late Au­gust.

The cen­tres are be­ing sold on be­half of MAB Funds Man­age­ment Ltd and are avail­able in one line, or sep­a­rately.

Ris­ing Sun Shop­ping Cen­tre, on Ross River Road at Mund­ing­burra, is an­chored by a Coles su­per­mar­ket and has 11 spe­cialty shops.

Town Plaza Shop­ping Cen­tre is in Char­ters Tow­ers’ main street and is an­chored by a Wool­worths su­per­mar­ket and has 10 spe­cialty shops and an ATM.

Peter Tyson said con­ve­nience- based neigh­bour­hood shop­ping cen­tre as­sets, an­chored by ma­jor su­per­mar­kets, were highly sought- af­ter by in­vestors.

He said a record weight of cap­i­tal from a wide range of in- vestors, in­clud­ing pri­vate buy­ers, syn­di­cates and listed trusts, was in­creas­ingly chas­ing lim­ited op­por­tu­ni­ties that be­come avail­able in the sec­tor.

“We ex­pect these two cen­tres in Townsville and Char­ters Tow­ers to gen­er­ate strong in­vestor in­quiry as of­fer­ings such as these are rare in the cur­rent mar­ket,” he said.

“There have only been a lim­ited num­ber of neigh­bour­hood shop­ping cen­tres on the open mar­ket in North Queens­land in re­cent years, so these cen­tres will at­tract plenty of at­ten­tion from buy­ers seek­ing qual­ity re­tail in­vest­ment ex- po­sure in these strate­gic lo­ca­tions.”

Ris­ing Sun Shop­ping Cen­tre is set on a 9393sq m site and fea­tures a to­tal let­table area of 3540sq m.

Coles is sup­ported by a spe­cialty mix in­clud­ing na­tional re­tail­ers Brumby’s Bak­ery, Sub­way, a phar­macy and TAB as well as a butcher, cafe and newsagency.

Town Plaza Shop­ping Cen­tre is set on a 7782sq m site in Gill Street and fea­tures a to­tal let­table area of 3584sq m.

Wool­worths is sup­ported by a spe­cialty ten­ancy mix in­clud­ing na­tional re­tail­ers.

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