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Singaporean Investor Poised To Buy $70 Million Everton Park Woolworths

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Singaporean real estate group Rockworth Capital Partners is close to acquiring the Woolworths Shopping Centre and Masters Home Improvement store at Everton Park in Brisbane’s inner north, The Courier-Mail reported.

The newspaper said sources had indicated the asset would be sold for about $70 million, representing a yield of around 6 per cent.

The 5.6 ha shopping precinct is 9km from the CBD and comprises a 5687 sqm Woolworths-anchored neighbourhood shopping centre and a recently built 13,570 sqm Masters Home Improvement store.

The asset will be the latest of many Woolworth's-anchored assets for Rockworth, which last year bought an Australia-wide portfolio of new Woolworths shopping centres for $152 million.

Woolworths is selling its shopping centres as part of its strategy to accelerate the divestment of property it has developed while there are buyers in the market.

This week Woolworths appointed CBRE to sell a portfolio of neighbourhood shopping centres around Australia worth about $180 million.

 

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Article originally posted at: https://https://theurbandeveloper.com/articles/768-stafford-road-everton-park