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SCA goes shopping in Mt Isa

SCA goes shopping in Mt Isa
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SCA Property Group has beefed up its holding in regional Australia after buying the Coles and Kmart-anchored Mount Isa Village mall for $44.2 million from an ISPT fund.
Under the deal, struck on an initial yield of 7.34 per cent, SCA takes ownership of the only major shopping centre in the remote northern Queensland mining town and the only one with air-conditioning.
Mt Isa Village is the only major mall in the remote mining town.
Mt Isa is more than 1800 kilometres by road from Brisbane and about 900 kilometres from Townsville.
“We’ve bought a good solid asset on a good solid yield,” said SCA chief executive officer Anthony Mellowes. ....

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Fund managers spend $70m on neighbourhood malls in WA, Qld

Fund managers spend $70m on neighbourhood malls in WA, Qld
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Adelaide-based investment manager FRP has struck the biggest shopping centre deal in WA this year after acquiring Woolworths-anchored Yanchep Central in Perthâs northern suburbs for $41 million.
The deal adds to the weight of institutional capital targeting neighbourhood centres anchored by supermarkets and non-discretionary retailers.
Woolworths-anchored Yanchep Central sold on a yield of 6.6 per cent.Â
The 6673 square metre centre at 2 Peony Boulevard was built in 2012.
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Alongside a Woolworths supermarket there are 16 specialty stores, including a BWS, Pharmacy 777 and a McDonaldâs. The transaction also included an adjacent four hectares of development land that will allow for an expansion of the existing centre. ....

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Retirement forces changes at top business

Retirement forces changes at top business
The head of leading property consultant firm has announced his retirement and a commercial agency has plucked a solicitor from a top-tier legal practice.
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by Chris Herde
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One of Queensland s leading building consultant firms has appointed its fourth managing director in the Sunshine State in almost 60 years.
After a 39-year career with Rider Levett Bucknall - the last six as Queensland s managing director - David Stewart will retire this year and has passed the baton onto Matt Long.
The Queensland arm of the global business - which prides its stability within the shifting sands of the property industry - has had only four local managing directors since it opened its doors in Brisbane in 1962. ....

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Retirement forces changes at top business

Retirement forces changes at top business
gympietimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gympietimes.com.au Daily Mail and Mail on Sunday newspapers.

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Retirement forces changes at top business

Retirement forces changes at top business
noosanews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from noosanews.com.au Daily Mail and Mail on Sunday newspapers.

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