Feature Stories

Vicinity’s Mount Pleasant Centre is on the market

One of Australia’s best performing shopping centres – Mount Pleasant Centre in Mackay, North Queensland, has been listed for sale. According to SCN‘s 2020 Little Guns report the centre ranked number one for Specialty MAT, recording sales of $14,262 per square metre! 

CBRE’s Simon Rooney and James Douglas have been appointed to market the prominent and highly sought Mackay asset, which is managed by Vicinity Centres on behalf of a mandate client.

Competitive investor interest is anticipated, given the centre’s extremely strong trading performance, dominance within its respective catchment, inherent income growth and value add opportunities and strategic location within a major Queensland economic hub and growth region.

“The Mount Pleasant Centre is one of the strongest performing regionally located, sub-regional shopping centres to be offered to the market in Australia in many years,” said Simon Rooney.

“All of the key major tenants – Coles, Woolworths and Kmart – combined perform above industry averages, as does the centre’s food, service and convenience-related specialty component. This aligns with an increasing cash allocation into the sub regional retail sector and current investor demand for high quality sub-regional assets, which have a strong non-discretionary focus and the ability to provide highly transparent, consistent, and growing returns”, he said.

Little Guns 2020 – Top 10 Specialty MAT/m2

Situated in the Mackay suburb of Mount Pleasant, the 22,519m2 centre is the dominant convenience-based retail complex within the trade area and the only sub-regional centre servicing a catchment of 112,520 residents.

“The centre benefits from its strategic location within the Mackay region, which has a diverse and dynamic economy, underpinned by the significant coal deposits in the Bowen and Galilee Basins, supported by the region’s standing as one of the largest sugar-producing regions in Australia. The centre’s expansive site of 86,760m2 is expected to be another key investor drawcard, offering value-add opportunities to an incoming purchaser.” Rooney said.

About the author

Shopping Centre News

Shopping Centre News (SCN) is in the ‘information business’, and is perceived as such by its readers. Daily industry news makes shoppingcentrenews.com.au a must-visit as part of the morning routine for those who want to keep right across the latest retail developments and events, while SCN's premium magazine is the leading publication for the shopping centre industry in Australia and New Zealand.

Known as the ‘industry bible’ SCN is printed five times a year with fascinating, in-depth features and important critical analysis written by known industry insiders as well as the popular ‘Guns’ reports, which ranks Australian shopping centre performances. Shopping Centre News is the only publication in the world that features centre statistics on Turnover, Turnover per square metre and Specialty Shop turnover per square metre for every major centre in Australia.

Add Comment

Click here to post a comment

Advertisement

Advertisement