SOLD: Fraser Coast shopping centre sells for $33.2 million
STRONG predicted population growth in the region has helped seal the deal on the sale of Eli Waters Shopping Centre for $33.2 million.
The centre, which was owned by Karmah Developments, sold to Queensland-based Taiwanese investor Chin Yuan International Enterprise on a 6.6% yield.
The sale was brokered by Peter Tyson and Jon Tyson of Savills.
Jon Tyson said the strong population growth rate of Hervey Bay was definitely a factor in the sale.
"Population growth is an attraction for any buyer."
He said the strong performance of the centre, which he described as above benchmark levels, and its Woolworths supermarket was also attractive to Chin Yuan International Enterprise.
In addition to the supermarket, the 6338-square-metre centre also has 23 speciality shops and a kiosk.
Mr Tyson said there had been multiple offers made for the shopping centre, which was unsurprising given its solid numbers and modern look.
He said he did not expect there would be any changes at the centre in the foreseeable future, adding that as far as he knew the new owners intended to keep it operating as usual.
Fraser Coast councillor Denis Chapman said the news was a positive sign for Hervey Bay and proof that businesses were looking to invest in the Fraser Coast.
"I've also heard of other businesses in the region being sold to people who want to invest in this area.
"I certainly wish the new buyers all the best."
Cr Chapman said the council was ready to work with businesses that wanted to expand or build new developments.
"Our doors are open for business," he said.
Cr Chapman said the best way for the council to help create new jobs was by encouraging new developers and businesses to invest in the region.