Archives: Victorian Retail Investments

The CBRE Victorian Retail Investments team is a dedicated group of individuals with a pure specialisation in supermarket and shopping centre activity. With a wealth of experience and knowledge around retail trends, Shopping centre forecasts, rental rates, anticipated yield and offshore investment, our team has a wide variety of expertise to suit any needs related to shopping centres.

Since the inception in 2010, we have transacted 53 shopping centre transactions totally $1.5 billion worth of shopping centre activity.

11.04.2019

Non-Discretionary Supermarkets Still in Demand from Domestic and International Investors

CBRE Victorian Freestanding Retail Investments have just transacted through auction the Supa IGA Supermarket in Ringwood East. Owned and run by the Corcoris family, the IGA supermarket was offered with a leaseback with a 10 year lease. The supermarket sold under the hammer for $7,340,000 on a yield of 5.4%, with multiple bidders bidding at…

19.03.2019

Curlewis SC/Woolworths on the market

The Woolworths anchored Curlewis Shopping Centre at Clifton Springs – one of the City of Geelong’s fastest growing areas – has been put on the market. Located on the Bellarine Peninsula, about 15 minutes from the Geelong CBD, the relatively new property opened in 2015 with Woolworths and BWS and has since added a medical…

05.03.2019

Standalone Woolworths Lara to test the market

The listing of the standalone Woolworths Lara supermarket will test the market for a product that has long been an investor favorite with their non-discretionary spend and long lease profiles to blue chip tenants. Located at 50 Centreway, the recently constructed , freestanding, 4195 square metre supermarket, sits on a generous 8804 square metre site…

19.02.2019

Generational Freehold supermarket Investment for sale in Ringwood East

The Freehold of A family-owned IGA supermarket in Ringwood East is up for auction after 42 years of ownership. Positioned on the corner of Railway Avenue and Wenwood Street, opposite the Ringwood East train station, the 2,000sqm freestanding supermarket is the anchor of the Ringwood East commercial and retail precinct, featuring a council car park…

05.02.2019

Coburg North Village listed on back of record retail year

The prized Coburg North Village shopping centre is on the market in the wake of a shopping centre investment spree in 2018 with sales in Victoria up 91 per cent, over 2017, to $1.82 billion.

The centre is the second Melbourne metropolitan shopping centre to be listed in as many weeks following that of Niddrie Central Shopping Centre last week.

The listing also follows Wesfarmers’ demerger of Coles – the brand holds the anchor lease within the centre – which has since announced a massive, circa $1 billion supply chain overhaul designed to lower costs and enhance business efficiencies.

Niddrie SC listed amidst shift to land rich assets

A Melbourne investor has listed the Niddrie Central Shopping Centre as developers and investors, including a particularly strong Asian cohort, drive a market shift towards income producing assets with development upside in the wake of a troubled residential apartment market.

CBRE National Director Retail Investments, Mark Wizel, who is managing the sale with Justin Dowers, said the land rich, 5112 square metre, Niddrie neighborhood centre, which is being offered for the first time, is anchored by a 3543 square metre Woolworths supermarket on close to 10,000 square metres of under-utilized Commercial 1 zoned land with a net annual income of $1.46 million.

31.01.2019

Private syndicate trades in $6m Jeep dealership

A Melbourne syndicate of private investors has divested its Jeep car dealership site in Caroline Springs, selling to a private investor from Ballarat for $6.05 million.

Boasting an annual net income of $501,000 per annum, the 2,091sqm strata site is currently leased to a local Jeep franchisee with five years remaining on the lease term.

29.01.2019

Niddrie Central and Coburg North Village to test retail property appetite

“[Niddrie Central] is just what investor/developers are looking for – a strongly performing supermarket-anchored centre in Melbourne’s middle suburbs that is going to provide a solid income stream on top of significant future development potential in an area with increasing demand for medium-density residential accommodation,” Mr Dowers said. “Yields for retail centres have tightened considerably…

24.01.2019

The Retail Investment Market – A Year in Review

From the desk of Justin Dowers

State of the market

It was only 10 months ago that some were forecasting the demise of traditional shopping centres on the back of the arrival of some significant e-commerce players into the Australian market. That has not occurred. Indeed, it might be argued that the e-commerce threat has been a blessing in disguise in forcing an overdue revitalisation of the shopping centre offering – taking shape in the form of a successful tenancy remix strategy. Retail has shown a pleasing resilience and an ability to adapt to a changing environment that has at least partially underpinned a very good year for retail investments.

16.01.2019

Sub-regional centres drive hot retail sales

Shopping centre sales in Victoria topped $1.75 billion in 2018, up a massive 84 per cent over 2017 in the midst of one of the most turbulent periods for retailing in years with disappointing retail sales figures and online competition leading to the demise of some brands and the relocation and restructuring of others.

The impending sales of the Drysdale Village and Yarra Junction centres, among others, will add to the total.

According to data compiled by CBRE Director Institutional Retail Investments, Trent Weir, shopping centre sales in Victoria have topped $1.75 billion so far in 2018, up a massive 84 per cent over 2017.

14.01.2019

Schwartz family sets new Melbourne benchmark with Liberty Tower retail sale

Melbourne’s Schwartz family realised $21,500,000 from the sale of a portfolio of ground floor shops beneath Melbourne’s landmark Liberty Tower apartment tower, representing the largest strata portfolio transaction in the city’s history.

The eight shops were offered together after 20 years of ownership as part of CBRE’s latest Premium Property Portfolio Auction (PPPA).

CBRE’s Josh Rutman, Nathan Mufale, Kevin Tong, Dylan Kilner and Max Ruttner marketed the properties, with the sale to a Sydney-based investor reflecting a new pricing benchmark for strata portfolio investments in Melbourne’s CBD.

10.12.2018

Hobart CBD Officeworks Transacts to International Investor from Mainland China

A domestic private family have just cashed in on their Officeworks Investment in the Hobart CBD, selling at auction to an international investor with heritage from mainland China for $11,725,000, with the CBRE Victorian Freestanding Investments transacting the property through their premium property portfolio auction.

CBRE Freestanding Retail Investments Joseph Du Rieu, Kevin Tong and Mark Wizel transacted the asset exclusively for the vendors, which attracted interest from both the domestic and international investors, witnessing multiple bids from across the country on the night.

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