RetailKirsten CrazeFri 28 Aug 26
MA Financial Spends $169m in Two Capitals to Bulk Out Retail Portfolio
Retail deals worth $169 million across Brisbane and Sydney have highlighted continued investor demand for established shopping centre assets.
MA Financial Group has expanded its retail portfolio with the $120-million acquisition of Taigum Square in Brisbane’s north and the $49-million purchase of ECQ XL, the second stage of Eastern Creek Quarter in Western Sydney.
Both centres were owned by Vicinity Centres, which is continuing to recycle capital from non-core assets into other opportunities.
The transactions were brokered by CBRE Pacific head of retail capital markets Simon Rooney, who said investor demand remained strong for established centres with high occupancy and strong local catchments.
About 15km north of Brisbane’s CBD, Taigum Square spans 22,470sq m and is anchored by Woolworths and Big W, with more than 59 specialty stores and kiosks and 1072 car spaces.
The centre is 98.9 per cent occupied and generates annual turnover of about $140 million.
Brisbane’s retail investment market has remained active through 2026, with CBRE recording $787 million in retail transactions above $5 million in the first quarter, compared with its 10-year quarterly average of $560 million.
In February, Australian Retirement Trust agreed to acquire a 50 per cent stake in Westfield Mt Gravatt from Centre Group for $882.5 million, while Vicinity took control of Uptown, formerly the Myer Centre, after acquiring IFM Investors’ remaining 75 per cent stake for $212 million.
In Western Sydney, ECQ XL comprises more than 11,000sq m of large-format retail space and forms part of the three-stage Eastern Creek Quarter precinct.
Completed in 2022, the centre has seven large-format tenancies including Officeworks, 4WD Supacentre, Anaconda and RSEA Safety, along with two pad sites occupied by McDonald’s and KFC.
The centre is positioned at the intersection of the M4 and M7 motorways.
The sale follows Vicinity’s $40-million acquisition of the broader Eastern Creek Quarter precinct from Frasers Property in May.
That deal included ECQ XL, a Woolworths-anchored convenience centre and ECQ Outlet, a new 20,000sq m retail space that opened in March.
