Brisbane’s Park Village Shopping Centre sold for $35.2 million

Brisbane’s Park Village Shopping Centre has sold for $35.2 million to an undisclosed local private investor through Peter Tyson of Savills.

Park Village Shopping Centre has a total gross lettable area of 6,421sqm and is anchored by a 2,626sqm Coles Supermarket with 36 specialty tenancies.

Peter Tyson, the Park Village deal continues the high level of transactional activity in the popular neighbourhood retail space in Queensland. We continue to see strong demand for retail assets from a cross section of investors, locally, interstate and offshore.

“The buyer was attracted to the centre as it is the only neighbourhood facility servicing the Middle Park, Westlake and River Hills precinct in Brisbane’s western suburbs," he said.

"The group see further opportunity to add value to the asset over time through active management.”

The property was sold by Peter Lucas of P.A. Lucas & Co.as the appointed Receiver and Manager of the centre.