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Club Persons of the Year were Roydon Brown, Shane Pingel, Merry and Allan Pidgeon mine Mariah and Jay fifo Construction dragline Under 17 Girls team Aboutusgenericimage_3 Under 17 boys Award winners Aboutusgeneric_2 The Gavin Daly Memorial Shield was won by Bailey Keabel and Jack Pidgeon seen here with Sonia Daly Steve Beale and Chris Dunphy, MIPEC mining Under 6 team kaleb and Gino
Club Persons of the Year were Roydon Brown, Shane Pingel, Merry and Allan Pidgeon mine Mariah and Jay fifo Construction dragline Under 17 Girls team Aboutusgenericimage_3 Under 17 boys Award winners Aboutusgeneric_2 The Gavin Daly Memorial Shield was won by Bailey Keabel and Jack Pidgeon seen here with Sonia Daly Steve Beale and Chris Dunphy, MIPEC mining

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.”

 

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