Benowa Gardens shopping centre on the Gold Coast has sold for $60.5 million - 50 per cent more than what former owner IJ Capital paid in early 2020.
Broker Savills says the deal is the latest in a strong run of retail transactions in Queensland, and is a major uplift in value for IJ Capital who initially paid $40.1 million for Benowa Gardens.
A local private investment group acquired the centre, which is anchored by Coles and hosts 37 specialty tenancies and a freestanding KFC drive-through restaurant.
The centre features a total gross floor area of 5,856sqm and parking for 384 cars, and is situated in the residential Gold Coast suburb of Benowa - four kilometres west of Surfers Paradise.
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