The Halls Head Central shopping centre in Mandurah, Western Australia, has been sold to Centuria Capital Group.
The 19,373sq m shopping centre is home to Coles, Aldi and Kmart, two mini-majors, 50 specialty shops and two freestanding pad sites. It boasts an annual turnover of $137.4M.
“The transaction demonstrates continued demand, particularly by private capital, for sub-regional assets with a focus on non-discretionary spending, particularly those that offer strategic value-add opportunities,” said Simon Rooney, CBRE’s Head of Retail Capital Markets for the Pacific.
Rooney, along with James Douglas, Senior National Director of CBRE Asia Pacific, facilitated the off-market sale campaign on behalf of the vendor, Vicinity Centres and ISPT. The centre occupies an under-used 93,136sq m site, which includes 10,000sq m of adjoining vacant land.
