Mt Ommaney Centre
Retail First Pty Ltd has announced YFG’s quarter acquisition of Mt Ommaney Shopping Centre, in a joint venture with Nuveen, one of the largest investment managers internationally with $1 trillion worth of assets under management.
Retail First Pty Ltd has been appointed to manage the property, which will become part of Retail First’s South East Queensland portfolio of 20 shopping centres. Anchored by Kmart, Target, Big W, Coles, Woolworths and Aldi, Mt Ommaney Shopping Centre consists of 170 stores and is the hub for the Centenary suburbs of Brisbane.
YFG Shopping Centres Pty Ltd is a privately-owned, South East Queensland based portfolio of shopping centres, including Toowong Village, Brookside Shopping Centre, Australia Fair and Fairfield Gardens, with all centres solely managed by Retail First.
The ownership and management structure demonstrates experienced retail hands with the capacity to produce shared value for all stakeholders.
Retail First’s Managing Director, Mr Steven Bridges, said that it is an exciting new challenge for Retail First and its team, with the last YFG acquisition being Calamvale Central back in 2012. “The appointment is a testament to the relationship with YFG, and essentially the demonstrated capability of the business to Nuveen.”
The sale of the shopping centre settled on the 27th of November 2019, when the management transition also took place.