Charter Hall expands Oxenford footprint
Charter Hall has snapped up a large-format-retail investment neighbouring a Bunnings it bought last year.
The Exit 57 complex at 160 Old Pacific Highway, Oxenford, set it back $28.5 million, following an off-market deal.
On 1.15 hectares near the M1 Pacific Motorway – the main transport corridor linking the Gold Coast to Brisbane – it contains five buildings.
Occupiers include 7-Eleven, Domino’s, Hungry Jack’s , Salvos Stores, Subway and Supercheap Auto.
There is also a gym.
CBRE’s Joe Tynan and Mikaela O’Farrell with JLL’s Ned McKendry, Jacob Swan and Liam Cox.
The deal comes 11 months since Charter Hall paid $55.7m for the neighbouring Bunnings outlet, on four hectares (continues below).
That seller was Wesfarmers which was winding up the BPI or BPI No 1 special purpose vehicle.
Charter Hall bought five other Bunnings outlets from that sell-down.
One more was in Queensland, at Airlie Beach.
The total spend was $290m.
Oxenford is about 20 kilometres north-west of Surfers Paradise.
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