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Queensland shopping centre bought by Brisbane firm.

Property Markets / Planning, Zoning, Infrastructure

Australia

Mar 05 2018

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The Cooloola Cove shopping centre, north of the Sunshine Coast sold for $12.85 million, following a deal between Brisbane-based private equity and syndication firm Altor Capital and a private vendor from Sydney. 

Peter Tyson and Jon Tyson of Savills brokered the off-market transaction.

Peter Tyson told the Urban Developer that that Cooloola Cove Shopping Centre was a dominant food and service destination situated in a wide-ranging trade area.

Located in the Cooloola Sands residential community, the Centre includes a single level shopping centre, with a lettable area of around 4,300 square metres. 

The centre is anchored by Woolworths with 10 specialty tenants along with grade level car parking for 233 vehicles.

“Neighbourhood centres anchored by Coles or Woolworths in the sub $15 million price point are becoming more scarce over time,” Tyson said.

 

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