Caneland Mackay Investment Trust - ‘Caneland Central’ Shopping Centre
Date of Purchase
Dec '23 Net Distribution
About Caneland Mackay Investment Trust
‘Caneland Central’ dominates the Mackay retail market being the only Regional-scale shopping Centre in the Mackay region. It forms a significant destination for all Mackay residents with > 90% of the population visiting the Centre through 2021.
The centre is anchored by Woolworths, Coles, Target, Big W, and Myer, along with 12 mini-majors, 161 specialties, 21 kiosks, 1 ATM, and 2 pad sites.
‘Caneland Central’ currently consists of a lettable area of 65,964 sqm on a site of 13.45 hectares, with 3,076 car parking bays.
The Centre attracts 5.56 million annual foot traffic per year, equating to the population of Mackay visiting 4 times per month, with an average spend of $70 per visit.
No genuine competition from online retailers, with significantly longer delivery wait times to regional areas, as opposed to the convenience of same or next day delivery to major cities. The post-pandemic retail revival has seen consumers returning to shopping centres.