This article is from the Australian Property Journal archive
SINGAPORE’S Rockworth Capital Partners has bolstered its Australian interests after finalising the acquisition of the Woolworths and Masters Home Improvement stores at Everton Park for a combined $70 million.
Located 8km north of Brisbane, the assets were sold by JLL’s Jacob Swan and Sam Hatcher, on behalf of Fabcot.
The Woolworths Everton Park comprises a 5,687sqm brand new neighbourhood centre anchored by a 4,012 sqm Woolworths supermarket and supported by 13 specialty tenancies including Commonwealth Bank, BWS and Grill’d. It was sold for $33.50 million on a rate of $5890 per sqm.
The Masters Home Improvement Everton Park sold for $36.50 million on a rate of $2,655 per sqm. The brand new 13,570sqm store along with 372 car spaces on a 38,860 sqm site was sold with a 15-year net lease.
The yields were not disclosed for both deals.
The acquisition will increase Rockworth Capital Partners’ Queensland portfolio to three properties and 12 across Australia, including four in New South Wales, two in Victoria and three in Perth.
Australian Property Journal
