Stonebridge Property Group is pleased to announce the sale of a Woolworths-anchored neighbourhood centre in Hurstville, Sydney for $41.5 million.

Due for completion in Q1 2022, the stratum titled neighbourhood is secured to Woolworths and 7 shops over a total GLAR of 4,242 sqm.

Primewest secured the asset from developer Fridcorp on a 4.77% passing yield. It is located at 93 Forest Road, Hurstville NSW within the $700 million residential-led mixed-use development, Beyond Hurstville, which will include more than 550 apartments.

Stonebridge Partner, Philip Gartland said:

“The transaction highlights the strength of demand for quality neighbourhood centres, with heightened interest in stratum and pre-completion centres arising as buyers evolve their mandates to align with increasing densification in Sydney”

For further information please contact the exclusive selling agents:

Philip Gartland | pgartland@stonebridge.com.au

Justin Dowers | jdowers@stonebridge.com.au