The Hurstville Central Shopping Centre has sold for $119.5 million. The sale reflects a passing yield of 6.07%, highlighting continued demand for Sydney metropolitan retail assets.

Hurstville Central is a thriving retail transit hub, acting as the sole entry point for approximately 12.5 million commuters and is directly linked to two major bus interchanges, making it one of a kind in Sydney. The leasehold property (42 years remaining) comprises a two-level shopping centre with concourse retail at ground level and service retail and car parking above. It is anchored by a high turnover Coles supermarket and complemented by 4 mini-majors, 27 specialties, 8 kiosks and 7 ATMs and benefits from 236 car spaces.

Stonebridge Property Group and McVay Real Estate co-marketed the property.

Phil Gartland of Stonebridge said “The sale result and volume of enquiry during the sale campaign was extremely strong. Hurstville Central is a very complex asset due to its leasehold title and transit interchange integration, but its exceptional location, customer traffic and income growth potential drew solid interest from a broad cross-section of buyers.”

Sam McVay of McVay Real Estate said “Sydney’s phenomenal economic and population growth is making retail investments in metropolitan areas increasingly sought after, particularly those located on or around key infrastructure within a short radius of the CBD.”

For the Sale Analysis or more information, please contact Philip Gartland on +61 403 852 324.