QLD Sub-Regional Centre Sells for $145 Million

Stonebridge Property Group is pleased to announce the sale of the Queensland Sub-Regional Clifford Gardens Shopping Centre, Toowoomba to Elanor Investors.

Carl Molony of Stonebridge Property Group managed the off-market sale on behalf of The Blackstone Group and 151 Property. The sub regional centre sold for $145.0 million via private treaty.

Clifford Gardens is a 27,651 sqm, double-supermarket and discount department store (DDS)-anchored shopping centre, supported by 80 specialty shops, 6 kiosks,1 ATM & extensive on-grade parking. Situated on a nine-hectare site, the centre was originally constructed in 1983 and refurbished several times in 1992, 2001 and 2009 to provide a superior convenience-based configuration.

Carl Molony of Stonebridge said “It is fantastic to see capital and confidence returning to the sub-regional sector. Over the past month we have transacted on CS Square in Victoria for $136.5 million and now Clifford Gardens for 145 million and noted a significant shift in the volume and type of capital seeking sub-regional assets. The market is seeing relative value in major retail assets with strong convenience offerings, which is resulting in new entrants and heightened competition.”

For further details, please contact:

Carl Molony | + 61 439 032 028 | cmolony@stonebridge.com.au

Jonathan Fox | + 61 402 147 780 | jfox@stonebridge.com.au

Philip Gartland | + 61 403 582 324 | pgartland@stonebridge.com.au

Justin Dowers | + 61 438 098 805 | jdowers@stonebridge.com.au

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