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
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