GLADSTONE SHOPPING CENTRE SOLD FOR MILLIONS
It went for ALOT of money!
Photo credit: The Gladstone observer
An Australian retail group has forked out $31.5 million to buy the Gladstone Square shopping centre.
The 7000-square metre shopping centre and its 27 stores, 302 space car park and two ATMS also known as The Gladstone Square shopping centre or "The Valley" has been sold to Elanor Retail Property Fund.
Colliers International retail sales director Stewart Gilchrist told The Gladstone Observer it was a vote of confidence in Gladstone's property market.
Mr Stewart wasn't surprised by the relatively quick sale, following a three-week expressions of interest campaign in April.
"When you get a Woolworths or Coles-based shopping centre there's always a good, strong amount of interest," Mr Stewart said.
Mr Stewart said the sale was anchored by the new 20-year lease for Woolworths, which will see the store remain at Gladstone Square till May 2036.