Properties & Pathways sell piece of homemaker centre
Properties & Pathways has sold an Ipswich large format retail investment held nine years.
Part of the Booval Homemaker Centre, 232 Brisbane Road, traded for $11.45 million – a 6.25 per cent yield – to a private investor.
With 2723 square metres in two tenancies, Baby Buntings and RSEA are the occupiers.
The site spreads 2672 sqm.
JLL’s Ned McKendry and Liam Cox were the agents.
P&P quits in the black
With six buildings and 530 car parks, other occupiers at the Booval asset include Repco and McDonald’s.
Harvey Norman is the anchor – co-founder Gerry Harvey paid $10.8m in 2014 for that strata component.
With 8606 sqm on 1.35ha, it replaced Bunnings.
Perth based Properties & Pathways outlaid $9.25m for its part.
The weighted average lease expiry now is about 4.5 years.
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