SCA Property Group chief executive Anthony Mellowes predicts neighbourhood shopping centre values will hold firm or even increase over time – despite rising interest rates – after the $4.6 billion retail landlord snapped up five malls from fund manager Centuria for $180 million.
The Fairview Green and Dernancourt shopping centres in Adelaide, Brassall Shopping Centre near Ipswich, Port Village Shopping Centre in Port Douglas and Tyne Square Shopping Centre in Perth were acquired on a yield of 6 per cent.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
