Stonebridge Property Group is pleased to announce the sale of Macgregor Home Large Format Retail Centre for $42,150,000.
Macgregor Home is a 11,912 sqm Large Format Retail Centre leased to 7 national/chain tenants including The Good Guys. The property sits on a 2.9 hectare site, strategically located within Brisbane’s established commercial precinct and enjoys the benefit from the major traffic route via Kessels Road.
The sale price reflects a core capitalisation rate of 5.75%.
Philip Gartland from Stonebridge Property brokered the sale off market.
“The market for Large Format Retail investments has never been better; demand in this asset class is being driven by their similarity to industrial, intrinsically land-rich nature, customer convenience and their income profile of lower rentals and income diversity.”
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