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News release


Yamanto Shopping Village announced for sale as neighbourhood shopping centre sector tightens nationally

JLL has been exclusively appointed to negotiate the sale of Yamanto Shopping Village on behalf of Shayher Group.

​JLL has been exclusively appointed to negotiate the sale of Yamanto Shopping Village on behalf of Shayher Group.

According to JLL's Jacob Swan and Sam Hatcher, Directors of Queensland Retail Investments, the number of opportunities to acquire a neighbourhood shopping centre has reduced in 2016 compared with previous years, as fewer assets have been offered for sale.

"This limited stock has been reflected in lower transaction volumes of neighbourhood centres in the year to date, nationally, which are down 64% on the same period in 2015. Queensland has fared better, down just 37% on the previous year," said Mr Swan. "Capital market conditions are still strong, and we've seen a range of investors raising capital specifically to target neighbourhood and smaller sub-regional shopping centres, so there is a high degree of pent-up demand from property funds management groups.

"Private investors are also actively seeking acquisitions, particularly core/defensive neighbourhood shopping centres, for the attractive yield relative to other asset classes," said Mr Hatcher.

Yamanto Shopping Village is a single level 12,410sqm neighbourhood shopping centre anchored by a Woolworths supermarket and Super Amart and supported by two mini-majors - Super Cheap Auto and Priceline – with 22 specialty tenants, three pad sites and three ATMs/Kiosks.

It occupies a significant 49,457sqm site approximately 35km south-west of the Brisbane CBD. The centre benefits considerably from high exposure to the major thoroughfares of Warwick Road and the Centenary and Cunningham Highway.

Mr Swan said the competition for assets and ongoing low interest rate environment had led to a further round of yield compression. "This was evident on the recent sale of Monier Village which was very competitively pursued."

The main trade area that is served by Yamanto Shopping Village encompasses around 41,600 residents as at June 2016, including 20,400 in the key primary sector. The main trade area population is projected to grow at an average annual rate of 3.8% to reach 72,400 by 2031.