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The largest neighbourhood shopping centre deal ever recorded in Queensland
MarketPlace Warner has been sold to an AMP Capital-managed private client mandate, for $78,350,000, signifying the largest neighbourhood shopping centre deal ever recorded in Queensland, exclusively negotiated by JLL's Jacob Swan and Sam Hatcher.The sale result also represents the sharpest initial yield ever recorded for a neighbourhood shopping centre in QLD, at 5.18%.MarketPlace Warner is an established and strong performing neighbourhood shopping centre securely anchored by Woolworths and Aldi, supported by 37 specialty tenants and 4 ATMs/Kiosks. The Centre also includes the freestanding 'Brodie's Building', a freestanding Goodstart Childcare and surplus land of 4,305sqm*, a development pad site of 2,345sqm* and an adjoining strata retail tenancy. JLL's National Director of Retail Investments, Jacob Swan commented, "The Centre was owned by a private family company for an extended period and underwent a significant, high quality refurbishment and expansion in 2013/2014. The ownership group have chosen to capitalise on the exceptional market conditions at present for prime retail assets.""Opportunities of this nature, combining a very high-performing centre with significant future development upside are exceptionally rare, which was reflected in the strong level of genuine interest from both major institutional and high net worth private buyers," said JLL's Director of Retail Investments Sam Hatcher. MarketPlace Warner is ideally located on a substantial site area of 6.48* hectares, only 22 kilometres* north-west of the Brisbane CBD in the suburb of Warner. It is the largest neighbourhood Centre within the defined trade area and one of only two Centres which includes an ALDI Supermarket. The Main Trade Area population is estimated at 53,290* at June 2016 and is projected to increase to 67,390* residents by 2036 with 29,380* in the Primary Trade Area. This reflects an average annual growth rate of 1.18%* in the Main Trade Area to 2036. Importantly, with limited competition within the Main Trade Area, MarketPlace Warner is well positioned to benefit from this population growth.
National Director of Retail Investments
+61 402 704 896
Director of Retail Investments
+61 408 899 691