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News release


Woolworths Marketplace Albany Creek sells for $26.1 million in JLL deal

Woolworths Marketplace Albany Creek has been sold in a $26.1 million deal negotiated by JLL's Jacob Swan and Sam Hatcher in conjunction with Peter Kniepp from Site 8.

The sale has been one of four recent Woolworths anchored neighbourhood centres sold across South East Queensland. The three additional metro Brisbane transactions include Woolworths Ormeau for $24 million, Birkdale Fair $23.3m and Woolworths Logan Village for $15 million.

"Woolworths Marketplace Albany Creek settled this week to a Melbourne based private investor. Private investors continue to be very active within the neighbourhood centre market," said JLL's Director of Retail Investments, Mr Jacob Swan.

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

Woolworths Marketplace Albany Creek comprises a prominently positioned 6,190sqm centre, 17km North West of the Brisbane CBD. Anchored by a high-performing Woolworths Supermarket together with 20 specialty stores, a kiosk, a vending machine and an ATM, the centre has produced strong trading performances, which is only expected to continue as this established residential area continues to grow. The main retail centre is also supported by a second separate building on the site that houses 5 speciality stores anchored by a large gym.

Mr Hatcher said, "The Queensland market has been very active through 2014 with AUD $1.7 billion worth of retail transactions recorded which has continued into 2015, with Q2 reaching sales volumes of $701.4 million."  

"We anticipate further yield compression within the neighbourhood shopping sector as investors continue to shift towards long lease, low risk assets," he said.

Property CategoryDateSale Price($)VendorBuyer
Woolworths OrmeauNeighbourhoodJun-1524,000,000Fabcot Pty LtdPrivate Investor
Woolworths Logan VillageNeighbourhoodJun-1515,000,000Fabcot Pty LtdPrivate Investor
Birkdale FairNeighbourhoodMar-1523,305,000Private InvestorFort Street Real Estate Capital