Redbank Plains Centre Sale


A West Australian fund manager has expanded its portfolio with the recent acquisition of a convenience centre west of Brisbane. The $23 million purchase of the Redbank Plains retail centre at 588 Redbank Plains Rd brings the fund's total assets under management to nearly $125 million. The property has a substantial landholding of 1.53 hectares, a floor area of 1,613m2, and a 5,227m2 license area, generating a fully leased net income of $1.48 million annually. With over 89% of income secured to national and global retailers, including Ampol, Krispy Kreme, Zarraffa's Coffee, and Carl's Jr, the centre is a well-established convenience retail site.