WBP Corporate has successfully negotiated the off market acquisition of Mirvac-owned Queensland shopping centre asset, Alexandra Hills for $40 million on behalf of a private client who wished to remain anonymous.

Alexandra Hills Shopping Centre is a modern fully leased subregional shopping centre anchored by Woolworths Supermarket and Trade Secret together with 44 specialty shops in the Brisbane suburb of Alexandra Hills.

According to Antony Belcher, Director and OIEC of WBP Corporate, “WBP Corporate is very active in the shopping centre market for these types of assets. We see a limited window of opportunity for our clients that have access to capital and limited or no gearing to cherry pick superior assets on strong yields. We have an extensive database of qualified clients looking to buy strong performing shopping centres and supermarkets throughout Australia, especially in Victoria and Queensland.”

Alexandra Hills 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.”

Alexandra Hills is a popular subregional centre located 25kms south-east of the Brisbane CBD. Set over two levels the centre offers both office and retail space with a total GLA in excess of 12,335sqm.

Mirvac was represented by Simon Rooney of Jones Lange LaSalle.