Under new ownership, it would seem Loganholme’s Hyperdome is likely to get new shops and a bigger Bunnings.
Queensland Investment Company (QIC), an investment management company owned by the state government, took full ownership of the Hyperdome in 2013 after acquiring 50% of the centre in 1996.
In September, Sydney-based global asset manager MA Financial bid $678 million for ownership of the Hyperdome, which had been for sale for two years.
Last week, QIC accepted MA Financial’s bid to become the Hyperdome’s new owner, according to News Corp.
MyCity Logan contacted QIC for comment about MA Financial’s bid and the process of selling the Hyperdome, but said they could not provide a comment on this matter.
MyCity Logan also contacted MA Financial and CBRE estate agent Simon Rooney, who is managing the sale. Neither party responded before deadline.
MA Financial is expected to renovate the shopping centre, diversifying the type of retailers, improving pre-existing stores, and maximising spaces in the Hyperdome which aren’t currently being used for trading purposes.
Coles, Woolworths, and Aldi anchor the current Hyperdome, but reports suggest Bunnings has expressed interest in joining the list of retailers in the centre.
An Event Cinemas complex and a large wholesale store, like Costco, are also being considered as potential additions in the Hyperdome.
MA Financial acquired IP Generation, a Melbourne-based specialist real estate investment management firm, for $90.4 million in May this year and has now become one of Australia’s largest integrated retail real estate platforms, managing a retail asset portfolio of $3.7billion.
