It's more than just an excellent news service.

It's about becoming part of the mining and gas community.

Subscribing to Shift Miner means you can get full access to all our news and special reports, advertise anything you want in the classifieds (print & digital) and browse the jobs board.

So no matter where your job takes you, you're just a click away from the best source of mining information on mobile, in print and online.

DIGITAL SUBSCRIPTION: $4.99 a week
Includes full access to all areas on smartphone*, ipad and online.
*Download the free iphone app from itunes

STILL NOT SURE?
Click here to sign up for our free news headlines service: The WINO (Wednesday’s Industrial News Online)

Email [username]:

Name:

Coupon Code:
Leave blank if you don't have one
Password:

Confirm Password:

Terms and Conditions and Privacy Policy
Aboutusgeneric_2 Patty and Santa (L-R) Mackenna, Nash and Jace Brunner Zoe with Santa dragline csg Rivah and AJ Conway-James csg Jayce Butcher Aboutusgenericimage_3 Construction Sean Joseph Challis Vin Hamilton Port Greg Byrne, Downing; Ian Reed, QNP
Aboutusgeneric_2 Patty and Santa (L-R) Mackenna, Nash and Jace Brunner Zoe with Santa dragline csg Rivah and AJ Conway-James csg Jayce Butcher Aboutusgenericimage_3 Construction Sean Joseph Challis Vin Hamilton

Fund buys into Moranbah
Rare retail investment by southern investors predicting mining turnaround
Wednesday 04 October 2017  

A Sydney based property fund has paid $25 million for the Moranbah Fair shopping Centre this week in a sign that investors are predicting better times for the mining sector.

The Elanor Retail Property Fund (ERPF) purchased Moranbah’s only Mall from Charter Hall with a passing yield of 8%, occupancy of 94% and a weighted average lease expiry (WALE) of just over seven years.

In a statement, ERPF said it saw upside in Moranbah

“The centre provides the only full-line supermarket offering to a stable, permanent resident population of approximately 10,000 people,” they said.

"The region's economy is strongly supported by the mining, construction and manufacturing industries and the centre is well positioned to benefit from any increased investment in the region.”

The sale represents one of the few significant retail sales in Central Queensland through the downturn.

According to Herron Todd White valuers, demand for retail property in other mining localities like nearby Mackay has been depressed.

“The retail rental market in Mackay has experienced a significant downward correction in rental levels as a result of the coal mining downturn,” they said in a September report.

“There are limited new reported retail leases with the market experiencing high levels of vacancy and weak levels of demand and the majority of recent retail leases are for properties less than 200 square metres in the Mackay CBD and are usually negotiated on a gross basis.

“The market is approaching its cyclical trough.”

 

Similar Topics