Retail sale, 226 Shute Harbour Road, Cannonvale

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