The sale of Corrimal Village in NSW represents the most expensive non-metro shopping centre sale since 2021.
MA Financial sold the property, which comprises 9760sqm of gross lettable area, 30,640sqm of land, and 33 specialty retailers, to an undisclosed buyer. Colliers, which brokered the deal, said that one of the main draws of Corrimal Village is its Woolworths supermarket, which has a lease secured until 2032.
Located less than 6km from Wollongong CBD, the sale matches a growing trend in commercial retail sales.
Colliers’ Australian retail snapshot report found that regional shopping centres were Australia’s second-most traded retail asset in 2024, with trade volumes increasing by 80 per cent on the 10-year average.
The Corrimal Village deal reportedly represented a 5.13 per cent passing yield. MA Financial has recently acquired the Hyperdome Shopping Centre in Brisbane, the Top Ryde City Shopping Centre in Sydney, and IP Generation and its $2 billion in retail assets.
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