Westfield Carindale is the 3rd largest shopping centre in Brisbane and the 12th largest shopping centre in Australia.
The Lendlease managed Australian Prime Property Fund (APPF) Retail appointed agents to sell its 50% stake of Westfield Carindale which it co-owns with the Scentre Group managed Carindale Property Trust in early 2020. APPF Retail was established in 1989 and comprises 11 predominately major regional shopping centres with almost 3,000 tenants.
Location IQ prepared a Market Potential Assessment for Westfield Carindale on behalf of APPF Fund as well as the managing sale agents, namely CBRE and Colliers International.
Westfield Carindale is located approximately 10 km to the south-east of the Brisbane CBD.
The centre encompasses 126,417 sq.m of floorspace including a retail component of 100,000 sq.m that achieves MAT of $759.5 million.
The market potential assessment provides a comprehensive document to help inform perspective buyers about the current and future opportunities for Westfield Carindale.
Location IQ assisted APPF Fund with the market potential assessment for Westfield Carindale and also prepared a similar document for the 50% sale of Westfield Marion for $670 million in late 2019. Location IQ is regularly involved in the sale process for major shopping centres across Australia, including the largest regional shopping centres.