Mt Warren Park Shopping Centre Sold Amid Investor Feeding Frenzy

The privately-owned Mt Warren Park Shopping Centre in the Brisbane-Gold Coast growth corridor has sold for $14.35 million after the vendor received more than 230 expressions of interest.

The price represents a 7.0% yield on fully let income.

The Coles-anchored centre was offered to the market for the first time since it was developed in 2005 via an Expressions of Interest campaign run by Peter Tyson and Jon Tyson of Savills Retail Sales.

Mr Tyson said the strong sales result followed overwhelming investor interest in the centre, predominately from private investors but also from syndicators and smaller REITs and fund managers.