An entire shopping centre in Brisbane’s west has hit the market – and investors are already queuing up.
The Yamanto shopping village has a Woolworths supermarket and a Super Amart, along with 22 other specialty stores.
JLL directors Jacob Swan and Sam Hatcher said there was a national shortage of neighbourhood centres on the market.
“This limited stock has been reflected in lower transaction volumes of neighbourhood centres in the year to date, nationally, which are down 64 per cent on the same period in 2015,” Mr Swan said.
“Queensland has fared better, down just 37 per cent on the previous year.”
Mr Swan said the stock shortage has investors lining up.
“We’ve seen a range of investors raising capital specifically to target neighbourhood and smaller sub-regional shopping centres, so there is a high degree of pent-up demand.
“This was evident on the recent sale of Monier Village [Darra, Queensland] which was very competitively pursued.”
The shopping village is 12,410 square metres on a 49,457 square-metre site approximately 35 kilometres south-west of Brisbane’s CBD.
The centre is exposed to the major passages of Warwick Road and the Centenary and Cunningham Highway.
Original article published at www.domain.com.au by Jason Quelch 18/8/16