This article is from the Australian Property Journal archive
REAL estate fund manager MPG has furthered its run of regional property acquisitions, picking up the Bunnings Centre in Rockhampton for $43.5 million.
Located at 540 Yaamba Rd, the large format retail complex was formerly a Masters store and has a building area of 18,319 sqm, and now has a Bunnings warehouse of 13,242 sqm and four additional tenancies.
Charter Hall purchased the centre for $37.5 million after it had been overhauled in 2017.
MPG will place the centre in a new single asset trust. Its portfolio is now worth more than $700 million after buying up 14 properties over the last 18 months.
The MPG BW Rockhampton Trust closed two times oversubscribed, according to MPG, which will launch a Regional Cities Property Trust this year with a target of $100 million of investments.
