'LOW RISK' ALBANY CREEK CENTRE TAKES $26M

'LOW RISK' ALBANY CREEK CENTRE TAKES $26M
ALBANY Creek has taken a $26.1 million cash injection for Woolworths Marketplace.

The sale is the largest of four Woolworths anchored precincts across south east Queensland since March: Woolworths Ormeau for $24 million, Birkdale Fair for #23.3 million and Logan Village for $15 million. 

The 6,190sqm property 17km north-west of Brisbane CBD went to a Melbourne-based private investor.

The deal was negotiated by JLL's Jacob Swan and Sam Hatcher in conjunction with Peter Kniepp from Site 8.

"Private investors continue to be very active within the neighbourhood centre market," says Swan.

"The transaction reflects a passing initial yield of approximately 6.25 per cent & fully leased initial yield of approximately 6.77 per cent."

The agents say they anticipate further yield compression within the neighbourhood shopping sector as investors shift towards long lease, low-risk assets.

The centre is anchored by a high-performing Woolworths and also features 20 speciality stores, a kiosk, vending machine and an ATM.


Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Advertisement

Related Stories

Woolies exec Paul Graham named new Australia Post CEO

Woolies exec Paul Graham named new Australia Post CEO

Woolworths (ASX: WOW) chief supply chain officer Paul Graham has ...

Quarantine-free travel to WA effective for all Australian states from 19 April

Quarantine-free travel to WA effective for all Australian states from 19 April

Western Australia will soon be able to welcome any interstate tr...

Australia strikes deal with Pfizer to double vaccine intake to 40 million

Australia strikes deal with Pfizer to double vaccine intake to 40 million

The Australian Government has reached a deal with Pfizer overnigh...

Australia's largest floral wholesaler Lynch Group buds on the ASX

Australia's largest floral wholesaler Lynch Group buds on the ASX

An Australian company that has been growing and wholesaling flowe...