Reg Rowe's property company,
Excel Development Group, has acquired the Aspley Village Shopping Centre in Brisbane's northern suburbs for $32.25 million from
The Super Cheap Auto founder established Excel Property in 2007 and has since acquired a number of A-grade development sites.
Abacus Property Group confirmed the sale early this week, originally purchasing the property for $15.75 million in 2005.
The 11,337sqm village is anchored by a full line 3185sqm Coles supermarket as well as 6 Mini Majors. The complex also includes 2 freestanding childcare centres.
Savill's Peter and Jon Tyson negotiated the deal between Abacus and Excel, with the settlement scheduled for June this year.