Tipalea Partners is pleased to announce the sale of Pimpama Junction to a private investor for a sale price of $38,650,000, reflecting a Passing yield of 5.73 %.
The centre is exceptionally well positioned in the Brisbane to Gold Coast growth corridor with numerous large-scale residential developments being undertaken in the immediate vicinity.
The Main Trade Area for Pimpama Junction is expected to continue to grow significantly with the population predicted to increase from 10,330 people in 2015 to 31,880 in 2026, equating to a growth rate of 10.8 % p.a.. This population growth will continue to drive the strong retail turnover currently experienced in the centre, particularly the Woolworths supermarket.
Sale Price: $38,650,000
Sale Date: April 2016
Passing Initial Yield: 5.73%
Equity Multiple: 2.3 x
For your reference, please click here to download the Sales Analysis.