Stonebridge Property said it has recorded more than $50 million in investment into retail sites that are anchored by IGA supermarkets across NSW.
Stonebridge’s NSW retail investment team said six IGA and IGA-backed sites have been involved in transactions this year, with another site, Tamworth Shopping Village, under contract.
The team said the common theme across the sites was the availability of long-term leases in areas with limited competition.
“The transaction was successfully completed earlier this year against a backdrop of rising debt levels and global uncertainty,” said Alex James-Elliott, director of Stonebridge’s NSW Retail Investment team.
“In today’s market, the ability to clearly communicate an asset’s unique attributes – and effectively address purchaser concerns – is critical to delivering exceptional outcomes.”
Stonebridge expects competition for supermarket and neighbourhood retail investments to strengthen further, with private capital remaining highly active for the remainder of this year.
“Long-term net leases, compounding annual income growth and highly visible trading locations ensure sustained demand amongst our enquiry base, with a significant uptick this year as purchasers place increased importance on non-discretionary and defensive asset classes,” added Brett O’Neill, senior executive at Stonebridge.
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