Aviator expands to Townsville

MPG Funds Management recently paid $26m for another Townsville supermarket-converted-office.

Aviator Capital has purchased its first Townsville property – a supermarket-converted-office.

Urban Corner at 71 Stanley Street (pictured, top) is costing $17.05 million.

The asset contains 3654 square metres of space and a 115-bay underground car park.

Bupa Dental, Defence Force Recruiting and GHD are amongst the occupiers.

The complex, also with frontage to Hanran and Ogden streets, replaced a neighbourhood shopping centre last anchored by Foodworks and before that, Coles.

The vendor, a private investment group, undertook the $6m conversion three years ago.

JLL’s Sam Byrne and Jacob Swan sold it to Aviator before the start of a public marketing campaign.

Coincidentally, another Townsville supermarket-converted-office – 101-119 Sturt St – traded in June for $26m to MPG Funds Management (story continues below).

Aviator grows Queensland portfolio

The Urban Corner acquisition comes seven months since Aviator paid Trilogy Funds Management $25m for a six level office abutting a historic post office, at Ipswich, in Brisbane’s south west.

Two years ago, the 13 year old group outlaid $36.95m for a contemporary commercial building at Cannons Hill, east of the CBD.

Elsewhere around the Queensland capital, the fund manager controls 240 Waterworks Road, Ashgrove, and 77 Hudson Rd, Albion.

Aviator is Sydney based.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.