Stonebridge Property Group and L.J Colquhoun Dixon have been appointed to sell the Mates Centre, a landmark retail investment in the heart of the Albury CBD.
The Centre is anchored by longstanding tenants, JB HI FI, Lincraft, TK Maxx and Cheap as Chips extending to over 9,128 sqm* of lettable area. Situated on a prime corner site in the blue-ribbon retail and commercial precinct of Albury, the Mates Centre benefits from a secure income stream, with 89%* of the gross rent being underpinned by national tenants. The property also features a weighted average tenure of 9.8 years1 by area.
Albury is a vibrant Regional City with a diversified economic base that plays a strategic role given it’s road and rail connectivity between Sydney and Melbourne. Albury has become one of the most investable Regional Cities in Australia with significant new development and infrastructure including the expansion of the Albury airport, redevelopment of the entertainment centre and further infrastructure initiatives with in excess of $120m being committed.
Michael Collins said, “this is a rare and exciting opportunity to acquire a high yielding landmark building within the Albury CBD. The Mates building is well positioned to benefit from the strong growth being witnessed in tree change locations such as Albury”
Andrew Dixon said, “The twin cities of Albury and Wodonga form one of regional Australia’s most progressive regional centres servicing a population base, including surrounding townships of about 170,000 people providing a critical mass which is now starting to compound. The subject site is positioned in the heart of Albury’s tightly held commercial / retail precinct.”
The Mates Centre Albury is for sale by Expressions of Interest closing 4pm Wednesday 29th of June 2022.
For further information, please contact the Stonebridge team.
Rorey James | +61 439 400 081 | email@example.com
Michael Collins | +61 404 023 204 | firstname.lastname@example.org