Stockland buys regional centre

 

sugarlandProperty group, Stockland, has paid almost $60 million for a regional Queensland shopping centre.

Stockland has bought Sugarland Shoppingtown in Bundaberg for $59.25 million from fund manager AMP Capital.

The company said the move would expand its national retail portfolio.

“Stockland has a very strong presence in the most significant trade areas on the east coast,” John Schroder, Stockland’s head of commercial property, said.

“This transaction fills a gap in our Queensland retail footprint. While investing in, and successfully redeveloping, Stockland Hervey Bay, we learnt a lot about Bundaberg and identified it as a trade area where we want to be active.”

AAP

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

Does your retail business have a loyalty program?
Vote

Twitter

Following the footsteps of its peers, @DavidJonesStore is cutting head office jobs in an effort to cut costs and be… https://t.co/NW5zR3tds2

9 hours ago

A post-election bump in confidence seems to have waned over the month of June, with #retail continuing GFC-level co… https://t.co/ZcUudSV1Wr

2 weeks ago

Franchisor #RetailFoodGroup has revealed a potential $160m recapitalisation with investment firm Soliton Capital Pa… https://t.co/gF05UyZP1m

2 weeks ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered