Caneland Central is going to market as current owners Lendlease seek investors to acquire 100% interest in the Mackay region’s largest shopping centre.
Owned and managed by Lendlease’s APPF Retail fund since 2001, the centre underwent a major refurbishment in 2011 and has DA approved plans for a further expansion and development for a new cinema and food and beverage precinct.
Lendlease Investment Management’s Managing Director, Scott Mosley said, “Caneland Central is the premier shopping and lifestyle destination in the Mackay region and is positioned at the heart of its local community.
“The centre has been a strong performer for APPF Retail and is uniquely situated to continue servicing the local community and tourists with its mix of retail, lifestyle and dining.”
Caneland Central covers 65,964m2 and houses major retailers such as Myer, Coles, Woolworths, Target, and Big W as well as a large range of mini-majors and speciality tenants.
The centre services more than 175,000 people across the Mackay region and is the only regional shopping centre housing Myer within a 320 km radius.
JLL Retail Investments Senior Directors, Nick Willis and Sam Hatcher, have been exclusively appointed on behalf of Lendlease to bring APPF Retail’s 100% interest in Caneland Central to market.
Willis said, “The offering to acquire a 100% interest in an institutionally owned and managed asset like this is unique, with only eight regional assets being offered over the past 10 years and only two in Queensland, highlighting the rarity of the opportunity.”
Caneland Central will go to market via an Expressions of Interest campaign.
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