Charter Hall lines up three more malls
Vicinity is speculated to be selling three of its smaller regional shopping centres to Charter Hall for a total c$250 million.
The deal includes two Queensland assets – Gympie Central and Whitsunday Plaza.
Armidale Central, in New South Wales, is also on the block.
This property is believed to be the cheapest – under $50m.
Gympie Central, Whitsunday Plaza
Charter Hall is expected to hold the centres in the Convenience Retail Fund, with a c$3 billion-plus mandate.
The biggest complex, Whitsunday Plaza, in Cannonvale, spreads 7.9 hectares with 22,239 square metres, anchored to Big W, Harvey Norman and Woolworths, and 1148 car parks.
Moving annual turnover was $166.8m according to Vicinity’s most recent reporting, last month. Occupancy is 100 per cent. There are 46 tenants.
Gympie Central contains 14,160 sqm, again anchored to Big W and Woolworths.
Completed in 1973 it was renovated in 2007. Also fully occupied, there are 47 tenants. MAT is $160.6m. The site spreads 3.18ha with 748 car parks.
It previously traded in mid-2013 for $63.8m.
Armidale Central
Armidale Central contains 15,564 sqm on 2.4ha with 610 car parks.
MAT is $120.9m from 35 tenants. Completed in 2007 it was renovated four years ago. Vacancy is 1.2pc.
CBRE’s Simon Rooney listed the three properties in October.
Any deals would come a week since we reported Charter Hall was buying Gold Coast’s Southport Park from Amart founder John Van Lieshout.
Also this month, the group settled on the purchase of Melbourne’s Burwood One complex – the site of Australia’s first Kmart in 1969.
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