Perth’s Greenpool Capital and Qualitas spend $260m on stakes for Runaway Bay shopping village

Two investment groups which last month bought a $128 million half stake in the Runaway Bay shopping village have decided to have another bite and are paying $132 million for the other half.

TWO investment groups which last month bought a $128 million half stake in the Runaway Bay shopping village have decided to have another bite and are paying $132 million for the other half.

Runaway Bay Shopping Village

Perth’s Greenpool Capital and alternative real estate investment firm Qualitas have bought full control of the centre from Vicinity Centres after buying their previous holding from the Perron Group.

The deal is the latest in a compressed spurt of big-ticket activity in the Gold Coast retail centre market.

In the last few weeks Vicinity Centres has paid $358 million for a half stake in Harbour Town at Biggera Waters and Cbus Property and UniSuper have bought majority stake in Pacific Fair at Broadbeach for $2.2 billion.

CBRE’s Simon Rooney, who negotiated the two Runaway Bay transactions, yesterday said Greenpool and Qualitas had secured both management and development control of the centre.

He said it occupied an under-utilised 12.47ha site and presented significant mixed-use development opportunities.

The 42,862 sqm Runaway Back centre is anchored by Woolworths, Coles and Aldi, together with discount department stores Big W and Target.

Originally published as Perth’s Greenpool Capital and Qualitas spend $260m on stakes for Runaway Bay shopping village