SCA Property Group has exchanged contracts with a private investor group to buy the Whitsunday Shopping Centre in Airlie Beach.
Just over 1km from the town centre, it is anchored by a Coles, Target Country and 46 specialty shops.
The centre, purchased on a passing yield of 7.25 per cent and with a two year rental guarantee from the vendor, is due to settle on Friday.
SCA said the centre’s acquisition would be funded by cash and debt facilities.
PRICE: $46.98m
BUYER: SCA Property Group
YIELD: 7.25 per cent
AREA: 11,043sq m (gross lettable area)
AGENT: Jacob Swan and Sam Hatcher, JLL Queensland
http://www.theaustralian.com.au/business/property/qld-retail-sale-226-shute-harbour-road-cannonvale/story-fnitinnf-1227303931141?sv=7c49823da3de40d55d6b60243136897d
Nerida Conisbee Ray White Group Chief Economist The latest population projections from the Australian Bureau of Statistics (ABS) have just been released. While getting long term projections correct is notoriously difficult, the reality is that in the next 48 years we are very likely to have a much bigger Australia. … Read more
Nerida Conisbee Ray White Group Chief Economist The number of single people purchasing homes is falling but becoming more evenly matched by gender. Increasing cost of housing has meant that the proportion of single people purchasing homes is falling. In 2014, an estimated 26.2 per cent of purchasers were single. … Read more