Acure Asset Management has put the North West Plaza in Queensland and The Village Australind in WA on the market, with the help of Stonebridge Property Group and Colliers Retail.
The two supermarket-anchored centres are expected to be worth a combined $110 million. Colliers said the properties provide investors with an opportunity to benefit from having leading supermarket tenants on substantial landholdings.
“Neighbourhood centres continue to appeal to investors, given their focus on everyday retail needs and the stability provided by established supermarket operators,” said Tim McIntosh, the national director of retail middle markets at Colliers
“This is reflected in transaction activity across the sector, with neighbourhood shopping centres recording $739 million in sales nationally during the last quarter, as investors continue to target assets underpinned by non-discretionary spending and leading supermarket brands.
“The Village Australind and NorthWest Plaza reflect these preferences, with diversified tenancies, strong local catchments and resilient income streams.”
North West Plaza is located 9km north of the Brisbane CBD at Everton Park. It covers 9696sqm of retail space and is anchored by a Woolworths supermarket, one mini-major, 21 specialty retailers and three pad sites.
The Village Australind, meanwhile, is home to Coles and Aldi, along with 15 specialty retailers and eight food and beverage tenancies across 9285sqm of gross lettable area.
“Portfolios of this scale and geographic diversification rarely come to market,” added Sam Linden, director of retail investments at Stonebridge.
“With approximately 6.6 ha of land across more than 19,000 sqm gross lettable area, the portfolio forms a land-rich opportunity with value-add upside across two of the country’s fastest-growing state economies.”
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