Weekly Transaction Update - 25th August
We managed to identify just 8 major deals this week for a total value of $162.8M.
The largest deal was the $33M acquisition by Chin Yuan International of the Eli Waters Shopping Centre near Hervey Bay on a 6.6% yield. The Centre which is anchored by Woolworths has a total NLA of 6,338sqm.
So far in 2017, we've recorded 39 Neighbourhood Shopping Centre sales worth $1.0B with a weighted average cap rate of 6.4%. For the prior corresponding period last year, we recorded just 17 sales for just under $400M and a similar WACR of 6.4%.
As the graph below indicates, the weighted average cap rate for Neighborhood Centres has remained trading within the 5.5% - 7.0% band over the past 2 years.
There were a number of other deals this week. Scroll through the list below or head to Propel for further details.
* indicates unconfirmed price