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News release

BRISBANE

Brand New Metropolitan Brisbane Shopping Centre Precinct for Sale


​An Expression of Interest (EOI) sale campaign managed by JLL for the Woolworths Shopping Centre and Masters Home Improvement store at Everton Park in Brisbane will close on 10 September 2015.

Located 9km from the Brisbane CBD, the 5.58 hectare precinct features a 5,687sqm (GLA) Woolworths-anchored Neighbourhood Shopping Centre on a new 20-year lease to Woolworths Limited. The supermarket is supported by nine specialty tenancies, four first floor tenancies, two ATMS and a kiosk, with a weighted average lease expiry (WALE) of approximately 15 years.

The dominant neighbourhood centre also features a brand new 13,570sqm Masters Home Improvement store with a new 15-year net lease, annual CPI reviews and multiple option periods.

The precinct is strategically positioned at the intersection of two regional arterial roads, being South Pine Road and Stafford Road. According to data from the Traffic Census for Queensland State declared roads, the Annual Average Daily count along Stafford Road came to more than 18,800 cars per day (seven million a year) and 38,000 cars per day (14 million a year) on South Pine Road.

“Both holdings have strong underlying land value with Brisbane City Council’s long term support for higher density within the immediate area, underpinning both investment value and continued catchment growth,” said JLL Associate Director of Retail Investments in Queensland, Mr Sam Hatcher.  “The opening of the shopping centre and home improvement store was highly anticipated by local residents.”

JLL Director of Retail Investments in Queensland, Mr Jacob Swan said, “Off the back of the recent transaction activity in the sector, we expect to receive significant interest for these metropolitan Brisbane long lease assets.”

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