St Lucia sale sets Qld benchmark

A new yield record for an IGA-anchored shopping centre has been set with the sale of St Lucia Marketplace in Brisbane. MRL Investments purchased the 3033sqm site for $15 million from Marquette Properties, representing a building rate of $7653/sqm and fully leased yield of a record 5.5 per cent. On the corner of Hawken Drive and Boomerang Road in St Lucia, just 4km from the Brisbane CBD, the Marketplace consists of two, two-level buildings. Brisbane’s leading IGA operator, Hopper Group, occupie

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