This article is from the Australian Property Journal archive
SCA Property Group has purchased the Annandale Central shopping centre in Townsville for $33.5 million.
Savills national director of retail sales, Peter Tyson handled the sale on behalf of a private owner.
The centre features a gross lettable area of 6,685sqm, anchored by a Coles Supermarket and includes a discount variety store, 19 specialty shops, one kiosk and four ATMs. It also provides parking for 352 cars.
Tyson said the transaction highlighted the ongoing strong demand for the neighbourhood shopping centre asset class.
“Investors are attracted to Townsville as the largest urban centre in North Queensland and its broad-based economy with multiple drivers of employment and economic growth, including defence, health, education, mining, agriculture and tourism.
“Annandale Central is well-located, just off the Bruce Highway ring-road in the master-planned residential suburb of Annandale directly opposite the expanding Lavarack Army Barracks, and is underpinned by a strongly trading full-line Coles Supermarket,” Tyson said.
He added that the sale of Annandale Central is the fifth shopping centre transacted by Savills in the Townsville region in the past 12 months, following the sales of the Woolworths-anchored centres Vincent Marketplace and Town Plaza, the Coles-anchored Rising Sun shopping centre, and Bushland Beach Plaza.
Australian Property Journal
