Property group Vinta lists major Canberra shopping centre, Marketplace Gungahlin, up for sale

Marketplace Gungahlin, home to more than 100 tenants including Woolworths, Kmart and BIG W, is being offered for sale in an expressions of interest campaign led by CBRE.

Currently owned by Australian property group Vinta, the centre was developed in 1998. Since then Marketplace Gungahlin has undergone major changes, including a $60 million redevelopment in 2018.

A further extension is due to be completed in July 2023 and will include new Aldi and Chemist Warehouse stores.

With the current price guide, the sale of Marketplace Gungahlin could be one of the largest retail transactions in Canberra's history.

Previous transactions include a half-stake purchase in Westfield Woden for $335 million and the sale of Canberra Outlet Centre for $135.1 million, both in 2018.

Simon Rooney, CBRE head of retail capital markets, Pacific, said the listing follows a record year for shopping centre investment activity around the country.

"A record $12.7 billion in Australian retail assets were transacted last year and that momentum has continued into 2022, with the comparative return profile for retail investments and significant asset value rebasing marking the retail sector as a compelling investment proposition," he said in a statement.

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Marketplace Gungahlin spans more than 40,000 square metres across two levels.

Vinta have owned the site since its development and currently hold commercial properties in Queensland and New Zealand.

The expressions of interest campaign closes on May 12, 2022.

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