Investment and fund management group Charter Hall has announced the purchase of Burwood One Shopping Centre, Victoria, for $210 million.
Located 17km to the east of Melbourne’s CBD in Burwood East, the shopping centre occupies a 58,800sqm site. Home to Coles, Kmart, Aldi, 40 specialty stores and eight kiosks, Burwood One features a combination of Coles and Kmart that Charter Hall identifies as among the nation’s best-performing pairings.
“Burwood One is another high-performing convenience-based sub-regional shopping centre in our growing $2.5 billion Charter Hall Convenience Retail Fund, and follows our acquisition of Southport Park Shopping Centre last week,” Charter Hall Retail CEO Ben Ellis said.
“The site is well positioned for future growth, given its proximity to Deakin University and the planned Suburban Rail Loop East, as well as future value add with development potential.
“The high-quality Burwood One and Southport Park assets perfectly represent our strategy of investing in dual and triple supermarket-anchored convenience shopping centres in strong metropolitan locations.”
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