Taiwanese buy up QLD Neighbourhood Centre5 March 2020
A Taiwanese investor has snapped up the Taigum Village Shopping Centre, which is 14 kilometres north of the Brisbane CBD for $26.35m.
The sale reflected a fully leased yield of 5.44%.
The 4333sqm Centre is anchored by a 3,584sqm Coles on a 20-year lease with 10 specialty tenancies and on-site car parking for 235 vehicles. The Coles store represents 82.7 per cent of the total lettable area and contributes 65 per cent of the gross passing income, including turnover rent.
The sale is further evidence of the shift in investor sentiment away from larger regional and super regional centre toward more convenience based Neighbourhood Centre which are less affected by the headwinds facing the larger Centres.
The sale of Taigum Village Shopping Centre was completed by CBRE.