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SCA Pays $33 Million For Greenbank Shopping Centre

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Shopping Centres Australasia Property Group (SCA) has acquired a Woolworths-anchored shopping centre south of Brisbane for $33 million, according to The Australian Financial Review.

The 5690 sqm Greenbank Shopping Centre was sold by Brisbane Markets director Noel Greenhalgh's Pub Lane Investments.

The centre is located in the Greater Flagstone Priority Development Area, which will eventually hold more than 120,000 residents.

It was acquired on a yield of 6.61 per cent.

The deal included a five year delayed settlement on the 10-ha site adjacent to the centre which can be used to expand the centre in future.

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Article originally posted at: https://https://theurbandeveloper.com/articles/sca-acquires-greenbank-shopping-centre-33-million