Marketplace Deagon Shopping Centre to Sell

The Marketplace Deagon shopping centre in Brisbane’s northern suburbs has been placed on the market and is expected to attract strong investor interest given the ongoing demand for the attractive neighbourhood centre asset class.

Peter Tyson of Savills and Stewart Gilchrist of Colliers International are jointly handling the sale process of the centre on behalf of its local private vendors.

Marketplace Deagon is a modern neighbourhood centre anchored by a 2,374sq m Prince’s Supa IGA and five mini-major tenants including The Reject Shop, Good Price Pharmacy Warehouse, Child Care Centre, Healthworks Fitness Centre and Rackley Swim School. The centre is 100% leased and features 10 specialty traders including national and chain brand tenants such as Mater Pathology, BWS, Subway and Pizza Capers.

A net annual income of approximately $1,708,000 places the centre in an attractive price point which, combined with a long WALE (Weighted Average Lease Expiry) of almost 12 years, is expected to draw strong levels of investor enquiry. The Centre features a strong catchment situated next to the Sandgate District State High School and exposure to high levels of traffic on Sandgate Road, a major arterial route.

Peter Tyson of Savills commented: “Marketplace Deagon is quite a unique offering in the marketplace due to the strong anchor weighting and security of income. The centre is not only anchored by a major supermarket, but features a strong line up of five mini-major drawcards, each of which are major traffic generators.”

The Marketplace Deagon shopping centre is being marketed by Expressions of Interest closing 29 September 2016.