Brisbane’s Park Ridge Town Centre is the latest shopping centre to change hands, with a private investor paying $86 million for the retail hub.
The 14,300 square metre mall is anchored by Woolworths and Coles, which account for more than half the centre’s sales, as well as a KFC and an Ampol.
Perth-based private investors RG Property bought the centre in 2012, and said it offers “robust cash flows as well as strong capital growth.”
Savills Australia’s national director Steven Lerche, said: “The buyer was attracted by the centre’s dominance and strategic location in a major residential growth corridor, with 55 per cent of its income stream underpinned by Woolworths and Coles.”
