Stonebridge and JLL and are pleased to announce the sale of Marketown East & West, Newcastle for $150.5 million. The sale reflects a passing yield of 5.6%.
Marketown East comprises a Woolworths, Big W, 5 mini majors, 24 specialty shops, 4 kiosks and 1 ATM over 3 levels and a total GLAR of 16,804 sqm. The centre is a stratum allotment that forms part of a mixed-use development, with approximately 160 residential apartments above the centre completed in 2017.
Marketown West comprises a Coles Supermarket, Officeworks, Dollar King, NAB office and 26 specialty shops, 1 kiosk and 1 ATM over a total GLAR of 9,572 sqm. The centre is situated on a large 2.45 hectare* freehold site, and presents an excellent opportunity for future repositioning, expansion or mixed-use development (STCA).
Stonebridge Partner Jonathan Fox said “There is significant demand for quality sub-regionals at present, with a number of major transactions completed already in 2021. These transactions include CS Square VIC for $136.5 million, Clifford Gardens QLD for $145 million and Marketown NSW for $150 million all completed within the last 3 months.”
For further information on the transaction please contact the Stonebridge team:
Jonathan Fox | + 61 402 147 780 | jfox@stonebridge.com.au
Carl Molony | + 61 439 032 028 | cmolony@stonebridge.com.au
Philip Gartland | + 61 403 582 324 | pgartland@stonebridge.com.au
Justin Dowers | + 61 438 098 805 | jdowers@stonebridge.com.au
Kevin Tong | +61 422 848 818 | ktong@stonebridge.com.au
