The off market transaction was managed by Savills Peter Trikamji, Jon Tyson and Michael Harcourt.

50 Market Place, Waterford West is located on the south side of Brisbane on Chambers Flat Road, a major traffic route connecting the suburbs of Logan. The Centre comprises a two level building featuring a mix of 13 medical, service and retail tenancies with 40%* of the centre comprising medical and allied health.

Mr Trikamji said “The sale resulted from a targeted off market sale campaign which generated substantial enquiry for the asset.”

“The Centre had previously been publicly marketed unsuccessfully by multiple other agencies, however we were confident that the asset had strong fundamentals and we were able to introduce the purchaser very quickly,” Mr Trikamji said.

Mr Tyson said the buyer was attracted to the centre’s strong mix of medical tenants and the potential to introduce additional allied health users to the centre over time.

Mr Tyson went on to say “We continue to experience strong demand from local and off shore private investors for retail centres in the convenience and medical sub-sector with significant appetite in the $5 million to $10 million price band. Investors are attracted to the diverse range of tenants and non-discretionary convenience, service and allied health-based tenants.”

Mr Harcourt also commented “The recent reductions in real interest rates have encouraged investors to focus further on property as the yield spread between return and cost of debt continues to improve. We are now seeing the cost of debt at absolute historical low levels."

Learn more about Savills Retail Investments.