SCA Property Group has acquired Mount Isa Village shopping centre sold for $44.2 million in a transaction jointly managed by Savills Australia. Peter Tyson, Steven Lerche and Jon Tyson of Savills jointly managed the Expressions of Interest process on behalf of ISPT.

With a floor area of 9,685sqm, the Coles and Kmart anchored sub-regional mall is the largest shopping centre servicing the Mount Isa trade area.

 Mt Isa Village features 19 specialty tenancies and comprises the City’s only enclosed mall.

 Peter Tyson, Steven Lerche and Jon Tyson of Savills jointly managed the Expressions of Interest process on behalf of ISPT.

Savills’ National Director Peter Tyson explained “Mt Isa Village was transacted following a competitive formal sale process that attracted bids from 11 separate buyer groups, including institutional investors, syndicators and private investors.”

“The strong response on this regional asset reflects the markets deep appetite for retail centres with strong fundamentals, which in the case of Mt Isa Village, included strongly trading majors, a WALE of over eight years and 70% of income secured by Coles and Kmart’, he said.

In February this year, Savills also brokered sale of the Woolworths anchored Cooloola Cove Shopping Centre in regional south-east Queensland to SCA Property Group for $18.66million on a yield of 5.85% in an off market transaction.

To request a sales analysis of the transaction please contact either of the selling agents via the below contact form.