GPT Group fund secures $1.2B Australian retail deal
GPT Group's (ASX:GPT) GPT Wholesale Shopping Centre Fund has finalised a $1.2 billion transaction to acquire 50% stakes in two of Australia's premier super-regional shopping centres, Sunshine Plaza in Maroochydore, Queensland, and Macarthur Square in Campbelltown, New South Wales.
Purchased from the Lendlease-managed Australian Prime Property Fund – Retail, the acquisition aligns precisely with independent valuations, comprising $622 million for the Sunshine Plaza interest and $568 million for Macarthur Square.
Upon imminent settlement in July 2026, GWSCF will hold a 100% outright stake in Macarthur Square whilst partnering equally with the broader GPT Group, which maintains a 50% interest in Sunshine Plaza.
Both retail hubs are dominant institutional assets, each encompassing approximately 107,000 square metres of gross lettable area and serving as the primary retail, leisure, and entertainment flagships within their respective, high-growth catchments.
GWSCF intends to fund the transaction utilising proceeds from its recent over-subscribed equity raise alongside existing debt capacity.
Operational continuity is assured, with The GPT Group retained to manage leasing, property, and ongoing development services for both assets. GWSCF Fund Manager David Sleet highlighted that the acquisitions materially bolster the fund’s scale and structural diversification.
He emphasised that the dominant centres capitalise on sustained population growth and resilient, inflation-linked everyday consumer spending, safeguarding highly durable income streams for institutional investors moving forward.
