Moranbah Fair shopping centre sold for $28 million

A popular shopping centre in central Queensland has changed hands, with the new owners adding the facilities to an already Mackay-flavoured portfolio.

Another regional Queensland shopping centre has changed hands after a property investment group sealed the deal for a healthy $28 million.

Sentinel Group Australia purchased the Moranbah Fair Shopping Centre for $28 million, with the facilities boasting a Coles supermarket and 16 specialty shops.

Sentinel Executive Chairman and CEO Warren Ebert said it was exciting to secure only full-line supermarket in the area.

“Moranbah is a key town in the Isaac region in Central Queensland with a growing economy associated with essential commodities such as mining and agriculture,” Mr Ebert said.

“The Isaac region is underpinned by approximately 24 operational mines, producing 42 per cent of Queensland’s saleable coal.

“Coles has a 15-year lease in Moranbah Fair which expires in 2028, with two five-year options.”

The 7058sq m site includes a freestanding KFC pad site, and has Telstra, the Reject Shop, TSG, Priceline and Anglo American as some of its vendors.

The purchase of Moranbah Fair be added to the Sentinel Diversified Investment Trust, which already includes The Hub @ Greenfields in Mackay.