Perfectly Positioned Sub-Regional Shopping Centre Up for Grabs

City Centre Plaza, Rockhampton, QLD will formally be presented to the market via an expressions of interest campaign closing 4pm Wednesday 19 September 2018 by JLL’s, Jacob Swan and Sam Hatcher and Stonebridge Property Group’s, Jonathan Fox and Carl Malony on behalf of the vendor, Centuria.

City Centre Plaza, is strategically positioned in Rockhampon, a central QLD hub most renowned for its agriculture and manufacturing sectors. The centre is centrally located in the CBD, with four street frontages to major arterial roads. The asset is one of the main shopping destinations servicing the central Queensland region and is anchored by a strong performing 3,717sqm Coles Supermarket and 6,846sqm Target DDS with 32 supporting specialty tenants.

JLL’s Jacob Swan said the centre provides immediate opportunity for an incoming owner to undertake a strategic remixing of the specialty leasing, with a number of options advanced and able to be immediately implemented.

“The defensive nature of these non-discretionary-based assets continues to appeal to the market.”

Stonebridge’s Jonathan Fox said interest is anticipated from private investors, syndicators and funds management groups who are actively seeking to invest in quality retail offerings, with scope.

“The low-volatility of the spending profile of prime CBD assets in strong regional cities, presents an ideal vehicle for capital preservation, while also providing a stable and attractive running yield.”

City Centre Plaza was most recently refurbished in 2015 and is the only shopping center south of the Fitzroy River in the heart of Rockhampton. In addition to Coles and Target the centre features a number of national specialty operators including national brands BWS, EB Games, Jay Jays, Terry White Chemist, Sanity, Rockmans and Madhouse Discount Stores.

JLL’s Sam Hatcher said there was significant growth to be had locally.

“The Rockhampton Region has a resilient and relatively stable economy compared with other more mining and tourist based towns in Northern and Central Queensland, given the large agricultural base.”

Expressions of interest close Wednesday, 19 September 2018.

For further information, please contact Stonebridge Directors Carl Molony +61 439 032 028 and Jonathan Fox +61 402 147 780.

City Centre Plaza, Rockhampton

Latest news

March 2019
Crossroads Homemaker Centre sold for $140 million
AMP Capital Diversified Property Fund has sold Crossroads Homemaker Centre to Ashe Morgan for $140.0 million, highlighting continued demand for Sydney metropolitan retail assets. Located...
Read More
December 2018
Melbourne Large Format Centre Sells for $80.5 million
Stonebridge and CBRE are pleased to announce the sale of Highpoint Homemaker, Maribyrnong VIC for $80.5 million to a Victorian based private investor. The sale...
Read More
December 2018
King Street Wharf Sold for $125.5 million
King Street Wharf – Sydney’s premier waterfront restaurant precinct sold for $125.5 million Markham has acquired a 100% interest in King Street Wharf, Sydney’s premier...
Read More
October 2018
Hurstville’s Retail Transit Centre Sold for $119.5 million
   The Hurstville Central Shopping Centre has sold for $119.5 million. The sale reflects a passing yield of 6.07%, highlighting continued demand for Sydney...
Read More
September 2018
For Sale: Glenfield Mall on Auckland’s Affluent North Shore
Auckland’s Glenfield Mall is for sale, offering investors a rare chance to acquire a premium regional shopping centre in New Zealand’s largest and fastest-growing city....
Read More
September 2018
Western Sydney Coles Sells for $21m
Stonebridge Property Group are pleased to announce the sale of Coles Westmead to a private investor for $21.0 million, on behalf of Coles Group. The...
Read More
February 2019
Pialba Place sells for $36.5m
Stonebridge Property Group is pleased to announce the sale of Pialba Place to M/ Group for $36.5 million. Stonebridge was the exclusive selling agent for...
Read More
January 2019
Windsor Marketplace sells for $22.6m
Stonebridge Property Group (“Stonebridge”) in conjunction with Savills is pleased to announce the sale of Windsor Marketplace to Holdmark Property Group for $22.6 million. The...
Read More