Queensland’s MarketPlace Warner Sells in Record Deal

A private buyer managed by AMP Capital secured MarketPlace Warner for a histmaking $78,350,000.

The centre, on a site area of 6.48 hectares, is the largest neighbourhood shopping centre sold in Queensland.

Warner is located 22 kilometres north-west of the Brisbane CBD.

MarketPlace Warner is securely anchored by Woolworths and Aldi and supported by 37 specialty tenantsThe centre also includes a freestanding Goodstart Childcare and surplus land of 4,305 square metres, a development pad site of 2,345 square metres and an adjoining strata retail tenancy.

With a relatively low yield of 5.18 per cent the deal was brokered by JLL's Jacob Swan and Sam Hatcher.

“The Centre was owned by a private family company for an extended period and underwent a significant, high quality refurbishment and expansion in 2013/2014,” Swan said.

"The ownership group have chosen to capitalise on the exceptional market conditions at present for prime retail assets.”

Hatcher said the centre’s availability was a rare opportunity which attracted interest from both major institutional and high net worth private buyers.

MarketPlace Warner is located on a site area of 6.48 hectares, only 22 kilometres north-west of the Brisbane CBD in the suburb of Warner.

It is the largest neighbourhood centre within the defined trade area and one of only two centres which includes an ALDI Supermarket.

The main trade area population is estimated at 53,290 at June 2016 and is projected to increase to 67,390 residents by 2036 with 29,380 in the primary trade area.

This reflects an average annual growth rate of 1.18% in the main trade area to 2036.

MarketPlace Warner is considered to be well-positioned to benefit from the area’s population growth due to the limited competition within the main trade area.