Stockland sells Baulkham Hills centre to Mintus for $141.25m

Stockland has exchanged a couple of major shopping centres.

In Sydney, it sold Stockland Baulkham Hills to Mintus for $141.25 million – valuing every square metre of lettable area at $7979.

The vendor held the property since 1982, last refurbishing it 12 years ago.

In mid-2020, the book price was published at $140.1m, down on the $152m December, 2019, assessment.

Aldi, Coles and Woolworths are the anchor occupiers; there is also 76 specialty fit-outs, including around a 200-seat food court, and 830 car parks.

The new owner is Parramatta-based.

Meanwhile, Haben Property Fund has settled on the acquisition of Stockland Caloundra, in Queensland, for $97m (story continues below).

This deal, like Baulkham Hills, was negotiated by JLL and reflects a 6.5 per cent capitalisation rate.

Each sqm of lettable area however is valued at $6171.

Stockland confirmed in June it was selling this complex and The Pines in Melbourne’s Doncaster East to the purchaser.

The combined value was speculated at c$250m.

Caloundra is about 20 kilometres south of Maroochydore.

Stockland has also exchanged a Caloundra shopping centre, for $97 million.

Share or Recommend article

Marc Pallisco

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

Marc Pallisco