YEAR’S BIGGEST RETAIL DEALS
GIVEN the Soul deal is due to settle next week and the end of the financial year rapidly approaches, we thought it timely to review some of the year’s biggest retail deals.
1. Brickworks — $137 million
The unlisted Wholesale Australian Property Fund snapped up the popular Southport centre towards the end of last year.
The new owner, run by AMP Capital, said it had no plans for radical changes at the shopping precinct.
Major traders at the Brickworks include Freedom Furniture, US owned off-price retail chain TK Maxx, and Chemist Warehouse.
2. Benowa Shopping Village — $49.5 million
The centre was nearly new when it was sold by Coles to a private Chinese investor.
The sale of the Coles-anchored centre, at a 5.08 per cent yield, was described as the lowest ever for a Queensland neighbourhood shopping centre.
The Benowa centre, on the busy corner of Ross St and Currumburra Rd, has 13 speciality tenants, along with a freestanding McDonalds outlet and a Coles Express service station, and a weighted average lease expiry term of more than 11 years.
3. Hope Island Central — $42.8 million
A Sydney investors syndicate bought the centre in an offmarket transaction from a company linked to Melbourne car dealer Jack Torcaso and wife Maureen. The latest stage was completed in April, 2017. Queensland Education is a major tenant.
4. Easy T Centre — $35.8 million
Robina shopping centre was sold in May by Clarence Property to a Gold Coast retail investor.
The Easy T Shopping Centre and the Easy T Medical Centre, situated on a 2.04ha site on Scottsdale Drive, features a 5015sq m shopping centre anchored by Spano’s IGA and a 865sq m medical centre.