LaSalle Investment Management has acquired the Big Top Market Fresh shopping centre on the Sunshine Coast
LASALLE Investment Management has acquired Big Top Market Fresh shopping centre on the Sunshine Coast.
QLD Business
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LASALLE Investment Management has acquired Big Top Market Fresh shopping centre on the Sunshine Coast.
It is understood the Maroochydore shopping centre, owned by the Reed Property Group and the Kahlbetzer family, was bought for about $85 million and it will be placed in the LaSalle Australia Core Plus Fund.
The complex comprises five adjoining properties on a combined, high profile site of 33,227sq m and is anchored by a Woolworths, together with 43 speciality shops.
The complex has the newly launched Shane Stanley Farmers Market as the centre’s second anchor.
The combined site, including Ryan Plaza and 6-10 Ocean Street, offers a number of redevelopment opportunities, which could capitalise on target market growth and maximise asset value.
“The property is an excellent investment opportunity for LACPF supported by strong residential population growth and unique exposure to a major tourism market together with further redevelopment opportunity,” said Simone Dalley, LACPF Fund Manager.
LaSalle Funds have been investing in Australia since 2006 and currently LaSalle manages about US$2 billion of assets in Australia.
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