725-757 Riversdale Road Camberwell VIC 3124
Stonebridge Property Group have been appointed on behalf of Coles Group Property Developments to offer for sale Coles Middle Camberwell, representing a premier opportunity to acquire a freehold supermarket in Melbourne’s coveted inner-east.
The 2018-built freestanding full-line Coles supermarket comprises a state of the art two level building plus three levels of highly convenient car parking, offering substantial depreciation benefits. The freehold property has been built to the highest standard with quality internal and external finishes that would be challenging to replicate in today’s market.
The property occupies an irreplaceable 4,425 sqm* commercial 1 zoned site in the affluent Camberwell/Canterbury locale. With no comparable land parcels in the surrounds of this size, the Supermarket investment represents something that is very unique and unrepeatable.
Mr. Dowers commented “Freehold supermarkets in locations such as Middle Camberwell are inter-generational investments that are very rarely offered for sale.”
“Whilst the investment characteristics are very strong, given the new 10-year net lease to Coles, the property fundamentals are even better; given the high underlying land value and significant replacement cost of the asset.”
“Given the size of the landholding, significance of the built form, and position within the affluent location of Camberwell, the asset is truly unrepeatable.”
The Supermarket is located on 725-757 Riversdale Road, Camberwell, a highly affluent suburb in Melbourne’s tightly held inner east. With median house prices 2.5x the metropolitan Melbourne median1 and 25% of residents earning over $2,000 per week (compared to 13.6% for greater Melbourne)2, Camberwell exhibits strong demographic fundamentals and high capacity for supermarket spending.
“Noting the blue chip inner east location of Middle Camberwell, we are anticipating a strong level of interest from both local and Asian based investors, especially those who have an affiliation with or live nearby the area.” – added Mr Tong.
Stonebridge Property Group’s Justin Dowers, Kevin Tong and Philip Gartland have been exclusively appointed by Coles Group Property Developments to bring Coles Middle Camberwell to market.