Owner of Capital Food Markets lists Riverside Plaza for sale
Kyron Capital has put Riverside Plaza shopping centre in Queanbeyan on the market. This is its third regional property sale this year.
Kyron Capital is a Sydney-based property investor selling Riverside Plaza in Queanbeyan. The shopping centre covers 30,695 square metres and is the largest in Queanbeyan, about 14 kilometres from Canberra's CBD.
Since March, Kyron Capital has listed three properties in the Canberra region. The other two were the Capital Food Markets in Belconnen and an Ibis Styles hotel in Sutton.
Kyron bought Riverside Plaza for more than 60 million dollars in 2020. The Capital Food Markets listing came less than three years after the company reopened the site in 2023.
A Coles supermarket anchors the plaza. The plaza also includes 21,660 square metres of rental space.
Property experts say big investors are buying sub-regional shopping centres. These centres have anchor grocers and strong rental growth.
Two-thirds of Queanbeyan's workforce travels daily to Canberra's CBD. Average household income is about 24 per cent above the national average.
- 60 million dollars in 2020
- Riverside Plaza purchase
- 30,695 square metres
- Plaza size
- 14 kilometres
- Distance to Canberra CBD
- 50 to 60 million dollars
- Expected sale price
Why it mattersA major property investor selling its Canberra properties may signal a change in strategy. It could also show a different view of the region's retail market outlook.
AustraliaThe divestment could affect local retail employment and asset values in Canberra and Queanbeyan. Buyer interest will shape the region's retail and commercial future.
✓ Claims checked against the source. checked 1 h ago
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