CENTRE PUT ON THE MARKET
“Other Gold Coast retail properties have sold at yields around the 5 per cent mark.”
The Brickworks in Southport sold at a 5.09 per cent yield in November 2017 and a sale of the Benowa Village centre quickly followed at a 5.08 per cent yield.
Sunland acquired the Lakeview centre in 2014 as part of its $61 million buy of a 42ha swath of land, at the time tagged Lakeview, from Sydney’s Scheinberg family.
Mr Abedian said Sunland had since filled vacancies and carried out refurbishments.
The four-building Lakeview centre, which fronts Bermuda St, is being sold via an expressions of interest campaign run by father-and-son team Tony and Adam Grbcic, of Ray White Broadbeach.
The centre has net income of $1.92 million.