Brisbane’s Great Western Super Centre up for grabs
Charter Hall Retail REIT and Telstra Super are stepping up their sell-off of retail assets, putting the Great Western Super Centre in inner-northwest Brisbane on the block for about $90 million.
The pair are selling the complex on Settlement Road via JLL’s Sam Hatcher and Jacob Swan, with the dominant neighbourhood shopping centre, anchored by Woolworths and Aldi, expected to attract strong interest.
The 15,400sq m centre sits on a 6.5ha block. The centre houses national tenants such as Subway, Hungry Jack’s, F45 Training, The Reject Shop, Super Cheap Auto and BCF. A Bunnings adjoining the centre opened last year and a 49ha infill development site approved for 700 homes joins the site.
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“Investors continue to seek out battleship retail assets, impenetrable to external market forces,” Hatcher says.
Stockland has also sold Cleveland Shopping Centre in outer Brisbane to syndicator Haben for $103 million. The deal was due to settle this week.
Meanwhile, Charter Hall is buying Stockland’s Caloundra centre for about $105 million. Newmark Capital is also buying Melbourne’s Tooronga Village Shopping Centre for about $65 million from Stockland.
This article originally appeared on www.theaustralian.com.au/property.
