- Caneland Central in rural Queensland been introduced to the market
- Currently the centre is owned and managed by Lendlease’s APPF Retail fund
- Neighbourhood shopping centre transactions collectively totalled $2.7 billion in 2021
Following a year of significant investor interest in retail assets, Lendlease has introduced Caneland Central in rural Queensland to the market.
Neighbourhood shopping centre transactions collectively totalled $2.7 billion in 2021, according to JLL research. The figure represents an annual increase of 81%.
JLL Retail Investments (Australia) Senior Directors, Nick Willis and Sam Hatcher, have been exclusively appointed on behalf of Lendlease the retail asset to market, via an Expressions of Interest campaign.
“We have seen a shift in investor interest for larger scale regional assets in the past 12 months, with investors attracted to the relative value of retail compared to other sectors, demonstrating the resilience of the asset class, particularly in Queensland,” said Mr Hatcher.
Currently owned and managed by Lendlease’s APPF Retail fund, the centre is the largest shopping centre in the region.
“The offering to acquire a 100% interest in an institutionally owned and managed asset like this is unique.
Nick Willis
Caneland Central is a 65,964 sqm regional shopping centre anchored by a Myer, Coles, Woolworths, Target and Big W. In addition, the site has a range of mini-majors and speciality tenants.
“At Caneland Central, over 130 tenants are unique to the trade area, servicing over 175,000 people, underpinning the dominance and long-term performance of the asset,” said Mr Willis.
“The centre is an exceptional performer, providing investors with an opportunity to benefit from the growing strength of the local economy, in addition to the retailer demand and ability for further development potential.”
