Property group Stockland has ramped up its Queensland portfolio, shelling out almost $60 million for a regional shopping centre.
Stockland has purchased Sugarland Shoppingtown in Bundaberg for $59.25 million.
The site was purchased from AMP Capital.
Stockland head of commercial property John Schroder said Stockland has a strong presence in the most signifcant trade areas on the east coast.
“This transaction fills a gap in our Queensland retail footprint. While investing in, and successfully redeveloping, Stockland Hervey Bay, we learnt a lot about Bundaberg and identified it as a trade area where we want to be active.”