Pimpama Junction

Developed and owned by Tipalea Partners, Pimpama Junction opened in July, 2014.

It comprises a 5,400 m2 neighbourhood shopping centre anchored by a Woolworths supermarket with 22 specialty stores including Amcal Pharmacy, BWS, a medical precinct, discount variety store, multiple food offerings, services, gym, vet and ATMs.

Pimpama Junction has set a new aesthetic standard for neighbourhood shopping centres in South East Queensland and when coupled with the forecast strong growth of the catchment area, this asset is expected to outperform.

The centre is exceptionally well positioned in the Brisbane to Gold Coast growth corridor with a number of large scale residential developments being undertaken in the immediate vicinity.

The Main Trade Area for Pimpama Junction is expected to continue to grow exponentially, increasing from 10,330 people in 2015 to 31,880 in 2026, representing a growth rate of 10.8 % p.a.

In April 2016, following a national sale campaign by Jacob Swan of JLL, Tipalea concluded the sale of Pimpama Junction to a private investor for $38.65m representing a passing yield of 5.7%.

Project Statistics

Address: 28 Dixon Drive 4209 Pimpama
Net Lettable Area: 5,441 sqm
Anchor Tenant: Woolworths
Sale Price: $38,650,000
Yield: 5.73%
Investor IRR: 19%
Equity Multiple: 2.3x
Site Purchased: December 2009
Centre Opened: July 2014
Sale Date: May, 2016
Builder: Hutchinson Builders
Architect: BDA
Bank: Commonwealth Bank