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News release


Gladstone Homemaker Centre sells for $27million: Jones Lang LaSalle

AUSTRALIA, 19 September 2012 – Jones Lang LaSalle’s Simon Rooney and Jacob Swan have sold Home Gladstone for $27 million in a deal which is set to inject the regional Queensland property market with a renewed sense of confidence.

Jones Lang LaSalle Australian head of retail investments, Simon Rooney said the deal was finalised last night on behalf of CPT Custodian Pty Limited to BWP Management Limited.
“Home Gladstone is a fully leased, near new Homemaker Centre in a high profile location in the Queensland resources powerhouse city of Gladstone, centre of the mining and resources boom,” he said.
The centre enjoys a prime position on the Dawson Highway, just six kilometres from the centre of Gladstone, and opposite one of the busiest airports in regional Australia.
Securely anchored by Bunnings (exp.2017) and Harvey Norman (exp. 2017), the centre is home to two mini-majors and four specialty tenancies as well as over 500 carparks and boasts a total GLA of 21,791sqm over a total site area of 5.46ha,
“As the only identifiable Homemaker Centre in Gladstone, it represented an extremely attractive offer to the market, in a booming regional city – and the market responded accordingly,” said Rooney.
"The homemaker space continues to see sporadic opportunistic plays in a generally oversold market, with the high quality bulky goods assets attracting keen interest primarily from the specialist domestic investors such as BWP, BB Retail, Gerry Harvey & Arkadia," said Rooney.
Jones Lang LaSalle’s Jacob Swan said the sale was a great boost for the regional Queensland market, a sign of renewed confidence.
“Gladstone is experiencing an unprecedented level of investment in resources driven infrastructure totalling $75 billion over the next 5-10 years via major LNG and Coal projects, and this is driving a flow-on effect locally, as seen by the sale and growth in the city, as well as state-wide and nationally,” he said.