HomeCo Acquires Marsden Park Centre in QLD

23 November 2020

Home Consortium now confirms that HomeCo Daily Needs REIT has entered into a binding contract to acquire Marsden Park Shopping Centre, a Queensland-based convenience focused asset for a purchase price of $48 million.

QIC offloaded the Centre from its Active Retail Property Fund. The sale price reflects a cap rate of 6.75%.

The Coles based Neighbourhood Centre is located on 5.8ha site at 57 Chambers Flat Rd Marsden. The Centre’s sits within the Brisbane-Gold Coast growth corridor, 30kms south of the Brisbane CBD.

The Centre recently underwent a $4million refurbishment and sits in a demographic of younger families. The Centre generates approximately $59m in sales from 2 million visitors each year.

With approximately 8,300sqm of NLA, the Centre has a non-discretionary focus tenancy mix including Coles, Prices Plus, Australia Post, general merchandise retailers as well as independent fresh food and casual dining tenancies. The Centre offers 544 parking spaces and is ideally located on a key route for both the Marsden and Browns Plains customer.

HomeCo will fund the acquisition from existing debt facilities.