Stonebridge Property Group, in conjunction with JLL, has sold a large format retail centre with a vacating Bunnings Warehouse for $35.25 million.
The Bayview Centre comprises 16,104 sqm of lettable area on a 3.6 hectare town centre site (zoned B3 Commercial Core), 1.5 hours south of Sydney.
The Centre comprises a recently vacated Bunnings (relocating to Port Kembla), freestanding McDonalds and supported by Liquorland plus 4 vacant shops.
Bayview Centre was sold via a highly competitive EOI campaign with interest from owner occupiers, LFR specialists, developers and syndicators seeking to reconfigure and reposition the ex-Bunnings store.
Stonebridge Partner Jonathan Fox said “The market is really strong for value-add large format centres. Buyers are now adept at repurposing ex-Bunnings boxes and backfilling with quality large format retail uses, which are in high demand upon completion.”
For further information please contact:
Jonathan Fox | +61 402 147 780 | firstname.lastname@example.org
Carl Molony | +61 439 032 028 | email@example.com
Phil Gartland | +61 403 582 324 | firstname.lastname@example.org
Justin Dowers | +61 438 098 805 | email@example.com