WBP Corporate recently acquired Mirvac-owned Canberra shopping centre asset, Lanyon Marketplace, for $21.4 million on behalf of WBP Corporate private client Terracomm Pty Ltd.
According to Antony Belcher, Director and Officer in Effective Control of WBP Corporate, “The successful acquisition followed off market price negotiations with Jones Lange LaSalle followed by a five week comprehensive due diligence analysis. WBP Corporate is currently acting on behalf of a list of active private clients looking to purchase strong performing shopping centres and supermarkets throughout Australia. Our thorough due diligence services ensure that we determine and represent the specific investment needs of our valued clients when making multi million dollar transactions.”
Lanyon Marketplace will be managed by Retail Realty, the property management arm of WBP Corporate. Susan Gray, Principal of Retail Realty, says, “It will be business as usual for the centre while we evaluate future value adding scenarios and implement new management practices including making the centre the community based hub it once used to be.”
Built in 1998, Lanyon Marketplace is a popular food based neighborhood centre located 28kms south of the Canberra CBD in the southern suburb of Conder. Located in a strong growth corridor, Lanyon Marketplace has a total GLA of 5,463sqm and is anchored by a full line Woolworths and 18 specialty shops
The newly acquired asset follows the acquisition of Alexandra Hills shopping centre in Brisbane, for $40million, earlier this year.