This article is from the Australian Property Journal archive
CHIN Hong Investment Corporation has splashed out more than $56 million for the Inala Plaza shopping centre in an off-market deal.
The convenience-oriented southern Brisbane centre at 156 Inala Avenue is on a three-hectare site and is anchored by Woolworths and Aldi, and has 60 specialties that include BWS and The Reject Shop.
The Brisbane-based Taiwanese Wen family’s Chin Hong acquired Inala Plaza from The Raptis Group, formerly headed by the late George Raptis, who bought the centre for $32.4 million from 360 Capital Retail Fund in 2013.
The latest acquisition will add to the Wen family’s $200 million retail portfolio in southeast Queensland.
A high net-worth Victorian investor has just paid $30.2 million to Coles for the 4,410 sqm Coles Alderley supermarket, on a 1.25-hectare site at 34 South Pine Road. Coles has also listed another inner Brisbane asset for sale, its newly built Kedron supermarket.
CBRE negotiated the sale.
Australian Property Journal
