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SCA goes shopping in Mt Isa
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SCA Property Group has beefed up its holding in regional Australia after buying the Coles and Kmart-anchored Mount Isa Village mall for $44.2 million from an ISPT fund.
Under the deal, struck on an initial yield of 7.34 per cent, SCA takes ownership of the only major shopping centre in the remote northern Queensland mining town and the only one with air-conditioning.
Mt Isa Village is the only major mall in the remote mining town.
Mt Isa is more than 1800 kilometres by road from Brisbane and about 900 kilometres from Townsville.
“We’ve bought a good solid asset on a good solid yield,” said SCA chief executive officer Anthony Mellowes.
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Subscriber only Drivers of all ages have faced courts across the Isaac region for drink driving over the middle alcohol limit.
Rhys Lochlan McIntyre, 24, recorded a blood-alcohol content (BAC) of .122 when he was intercepted by police on Box St, Clermont, about 12.50am on November 21. He pleaded guilty at Clermont Magistrates Court on December 9 to driving over the middle alcohol limit but not over the high limit, his second drink driving offence within five years. Magistrate Robert Walker said some significant road safety issues were displayed from McIntyre choosing to drive while intoxicated. He was fined $800 and disqualified from driving for seven months. The conviction was recorded.