Melbourne Large Format Centre Sells for $80.5 million

Stonebridge and CBRE are pleased to announce the sale of Highpoint Homemaker, Maribyrnong VIC for $80.5 million to a Victorian based private investor. The sale reflects a yield of 6.26%.

The 21,272 sqm single level large format retail centre is located 8 km north west of the Melbourne CBD in the high growth suburb of Maribyrnong. The Centre is located opposite Highpoint Shopping Centre which will be the second largest shopping centre in Australia once the most recently proposed extension is complete. Highpoint Homemaker Centre sits on a large Commercial 1 zoned site and forms part of the Highpoint Activity Centre which designates a preferred height limit of 6 to 10 levels, providing medium to long term flexibility to the incoming purchaser.

Stonebridge Director Carl Molony said, “The opportunity was extremely well received by the market, with 14 first round offers received and a competitive second round process resulting in an unconditional exchange with no formal due diligence period. The transaction reiterates our view that demand is very strong for retail assets on versatile land holdings in metropolitan locations”.

The sale of Highpoint Homemaker follows the sale of King Street Wharf in Sydney for $125.5 million by Stonebridge in November 2018.

For a copy of the sale analysis or further information, please contact Stonebridge on +61 2 9254 9900.

Latest news

August 2021
Townhouse site comes to market, as Templestowe booms with 17% growth in median house price
A 3,697sqm site in the heart of Templestowe, one of Melbourne’s strongest performing housing markets, has hit the market at a time when the Templestowe...
Read More
July 2021
Stonebridge transact a 1,637sqm mixed-use site off-market after selling the adjoining site only two weeks prior
Stonebridge Property Group have successfully transacted 347-349 Nepean Highway, Frankston after selling the adjoining property, 345 Nepean Highway, Frankston only two weeks prior. Stonebridge were...
Read More
July 2021
Major 11.37ha Sunbury South Precinct Structure Plan site to be sold
A premium 11.37 hectare residential and commercial development opportunity centrally positioned in one of the fastest growing satellite cities in Victoria, has hit the market...
Read More
July 2021
Stonebridge sell 2,203 sqm elevated landholding under the hammer to childcare operator
Stonebridge Property Group have successfully transacted 65 Boronia Road, Boronia, under the hammer for $2,750,000 to a childcare operator who outbid developers. The transaction was...
Read More
July 2021
New dominant Large Format Retail asset to hit the market in Melbourne’s north growth corridor
The newly constructed Craigieburn Junction Large Format Lifestyle centre in Melbourne’s northern growth corridor is set to come to market. The prime 30,000 sqm asset...
Read More
July 2021
Starling Road soars into spotlight with third property to hit the market for 2021
A 12,180sqm in the centre of Officer, one of Melbourne’s fastest growing suburbs in Melbourne’s south east growth corridor, has hit the market and is...
Read More
July 2021
Chinese investor doubles money despite permit rejection
A Chinese investor has more than doubled their money on a Donvale land parcel, despite having a 40-townhouse permit application rejected. The site at 25-35...
Read More
July 2021
The Spotlight’s on regional investments as Castlerock off-loads Gippsland freehold
Stonebridge Property Group have transacted another freestanding Victorian regional investment, as yields for the in-demand asset class track closer to 5%. The property (Spotlight Plaza...
Read More
July 2021
Regional investments continue to soar, as Coles Swan Hill Shopping Centre sells for above $20 million
A regional Victorian Coles anchored neighbourhood shopping centre has transacted for $20,075,000, representing a yield of 5.08%. Located in the heart of the Murray River,...
Read More
July 2021
Highly secure Caltex for sale located at the entrance of the City of Geelong
The fast-growing Stonebridge Property Group team have listed another freestanding Caltex Service Station in Geelong North, which will fuel into the growing demand for single...
Read More
July 2021
Significant 3,202sqm corner landholding with the option to buy part of or all of the site
Stonebridge Property Group have been entrusted to transact a significant corner landholding within Ashwood, located at 10 Harold Street & 55-57 High Street Road. The...
Read More
July 2021
For Sale: The Bentleigh Club
Melbourne Football Club will officially complete its exit from gaming by August 2022 with the club today commencing the process to sell the Bentleigh Club. ...
Read More
July 2021
Retail investments continue to thrive as Coles Woodend sells for a record $33.3 million
Coles Woodend represented the first freestanding supermarket sale in Victoria of 2021, following a year of very limited supply. The 3,780sqm regional freestanding supermarket sold...
Read More
July 2021
Pace of Ascot Vale sets new industry benchmark with $19.15m commercial sale
Pace Development Group will close the financial year with a further $19.15 million added to its commercial results and new industry benchmark, having sold four...
Read More
July 2021
Marketown Newcastle sells for $150 million
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...
Read More
June 2021
QLD Sub-Regional Centre Sells for $145 Million
Stonebridge Property Group is pleased to announce the sale of the Queensland Sub-Regional Clifford Gardens Shopping Centre, Toowoomba to Elanor Investors. Carl Molony of Stonebridge...
Read More
June 2021
Telstra sell Springvale development site
Stonebridge Property Group have completed a successful sale of 18-26 Warwick Avenue, Springvale, a 705sqm allotment on the fringe of the Springvale Activity Centre. The...
Read More
June 2021
Development site portfolio auction records 100% clearance rate
Stonebridge Property Group have completed a successful portfolio auction, selling all three sites presented under the hammer in a portfolio known as the Eastern Townhouse...
Read More
June 2021
Long term net lease guaranteed by ASX listed Healius Group set to hit the market
Property syndicator, Fawkner Property, has appointed rapidly growing Melbourne agency Stonebridge Property Group to sell a prominent two-level office building located at 456 Lower Heidelberg...
Read More
June 2021
3 deals in 1 week | Stonebridge makes the news – Saturday June 20th
East Hawthorn Other Chinese-backed vendors cashing out of the market include Dahua, which has sold a car wash freehold in East Hawthorn for $5.2 million...
Read More
June 2021
Stonebridge appointed on elevated landholding at the foothills of the Dandenong Ranges
Stonebridge Property Group have been appointed as the sole exclusive agents for the transaction of a significant landholding within the Boronia Activity Centre located at...
Read More
June 2021
20 owners unite to transact St Kilda Road precinct site to developer
Rapidly growing agency, Stonebridge Property Group, have completed an off-market sale of a 20-unit apartment block, located at 8 Louise Street, Melbourne. The deal was...
Read More
June 2021
Large Format Centre sells for $35.25 million
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...
Read More
June 2021
The Stonebridge Property Group Asia Practice Team EXPANDS
The Stonebridge Property Group continues to expand its National Asia Practice team with the addition of Sarah Xi, joining as a Sales Executive focusing on...
Read More
June 2021
Telstra to sell triple street fronted development site in Springvale Activity Centre
Telstra Corporation Limited, along with Transaction Advisor Charter Keck Cramer, have appointed rapidly growing agency Stonebridge Property Group to sell a development site in the...
Read More
June 2021
Green Wedged Zoned landholding sells to Chinese landbanker
A Chinese landbanker, completing only their second acquisition in Australia, has purchased a Green Wedge Zone allotment at 80 Riverend Road, Bangholme for $5,100,000. The...
Read More
May 2021
Landowners unite to create major sale
Three consecutive land parcels at Lots 1, 4 & 5 Starling Road, Officer, have been sold at the conclusion of an international Expressions of Interest...
Read More
May 2021
Administrators’ Sale – Portfolio of Eastern Melbourne townhouse sites hit market
Administrators, from Cor Cordis, have appointed Stonebridge Property Group to manage the sale of three (3) high quality infill townhouse development site opportunities across Melbourne’s...
Read More
May 2021
Aggressive retail & office investors eye new asset class – Record low yield struck in Melbourne’s north
Rapidly growing Melbourne agency Stonebridge Property Group, in conjunction with NSL Property Group, have sold an industrial / office investment in Melbourne’s north for close...
Read More
May 2021
Sydney accounting firm secures Melbourne block of flats for $4,500,000
A whole block of flats in Kew has sold 3 weeks prior to auction on a 14 day settlement. The sale represents a sharp 2.6%...
Read More
May 2021
EcoWash Hawthorn East set to capture strong investor and developer interest
Dahua Group Australia has appointed Stonebridge Property Group to offer for sale a freestanding car wash investment opposite their newly developed Hawthorn Park apartment project...
Read More
May 2021
Stonebridge appointed on Frankston receiver sale
Stonebridge Property Group have been appointed to market 345 Nepean Highway, Frankston, a mixed use zone development site in this prominent south east/peninsula position. Acting...
Read More
May 2021
Highly anticipated Ascot Vale Woolworths Metro Supermarket hits the market
The highly anticipated Ascot Vale Woolworths Metro Supermarket has hit the market as agents prepare a sales campaign on behalf of award-winning developer, Pace Development...
Read More
April 2021
Mortgagee sale in a royal location
Stonebridge Property Group has been instructed by Wexted Advisors to undertake a mortgagee sale on a landholding within the south-eastern suburb of Noble Park. The...
Read More
April 2021
Prime ground lease service station not to be missed in Melbourne’s inner east
Stonebridge Property Group’s listing of the standalone Caltex Service Station in Burwood East will test the market for a product that combines both a secure...
Read More
April 2021
SOLD: Lendlease retail fund successfully sells CS Square Shopping Centre
The Lendlease managed Australian Prime Property Fund Retail (APPF Retail) has reached agreement on the sale of CS Square in Victoria  to DeGroup for circa...
Read More
April 2021
Flinders Lane café sells on 3.2% yield
A popular café on Flinders Lane in the Melbourne CBD has sold this week on a sub 3.2% yield and a building rate over $35,000/sqm....
Read More
April 2021
Max Warren joins Stonebridge Property Group
Stonebridge Property Group continues to expand its Melbourne team, with former Aston Commercial agent, Max Warren, joining as Manager in the City Fringe market. In...
Read More
March 2021
Woolworths to sell brand new supermarket in Melbourne metropolitan growth corridor
Stonebridge Property Group has been appointed to sell a brand-new Woolworths Supermarket in the Melbourne Metropolitan growth suburb of Roxburgh Park, 25km* North of Melbourne...
Read More
March 2021
Investors tipped to ‘dip’ into blue-chip Heidelberg investment
The headquarters of award winning ‘Chunky Dips’ manufacturer ‘Simply Delish’ has hit the market and is expected to receive strong interest from investors given the...
Read More
March 2021
Stonebridge Property Group Expands into Suburban Strip Retail
Leading Australian owned commercial real estate group, Stonebridge Property Group (SPG), is growing again with former CBRE Director, Rorey James, together with senior staff Nic...
Read More
March 2021
9 Mornington shops to go under the hammer on behalf of Mortgagee
An iconic Mornington retail complex will go to auction next week, under instruction by the mortgagee. Located at 53-55 Barkly Street, the complex commonly known...
Read More
March 2021
Permit approved Box Hill site to be sold at Auction
A 725sqm site in the heart of the Box Hill Activity Centre has been listed for sale by Stonebridge Property Group’s Julian White and Chao...
Read More
March 2021
Versatile landholding to be sold in amenity dense Gardenvale
A 1,115 sqm site in the high value suburb of Gardenvale has hit the market, and with a high exposure to the Nepean Highway and...
Read More
March 2021
Landowners Unite to Create Officer Mega Lot
A large 12ha site in the centre of Officer, one of Melbourne’s fastest growing suburbs in Melbourne’s south east growth corridor has hit the market...
Read More
March 2021
Large Mornington Peninsula landholding to be sold after 43 years of ownership
A large 15.6ha site in the Mornington Peninsula has been offered to the market with plans to be sold via Expression of Interest. Stonebridge Property...
Read More
February 2021
Mornington Village Shopping Centre on the Market
Stonebridge Property Group’s listing of Mornington Village Shopping Centre will test the market as the first core Victorian Neighbourhood Shopping Centre offering of 2021. The...
Read More
February 2021
Dylan Kilner joins Stonebridge Property Group
Leading commercial real estate group, Stonebridge Property Group, is expanding its Melbourne team, with former CBRE agent, Dylan Kilner joining as Manager in the City...
Read More
February 2021
Reading Entertainment lists 5-hectare Sydney site for sale
Stonebridge Property Group have been exclusively appointed to sell the landmark ‘Auburn Redyard Entertainment Centre’, 98 & 100 Parramatta Road, Auburn, an expansive 4.82-hectare development...
Read More
February 2021
City fringe resilient despite pandemic
Melbourne City Fringe Market Update FEBRUARY 2021 Despite the significant headwinds 2020 presented, our data indicated that the city fringe market proved resilient with minimal...
Read More
February 2021
Permit approved corner landholding in prestigious Kew to be sold via auction
A 1,259sqm permit approved corner landholding for 14 luxury apartments in Kew, will be sold via auction on Thursday 11th March 2021 at 12:30pm onsite....
Read More
February 2021
Stonebridge Management Team secures ‘Beecroft Place’
Beecroft Place – Hannah Street, Beecroft NSW Modern high-quality community shopping centre, forming part of the Beecroft Place mixed-use development, positioned in the heart of Beecroft...
Read More
January 2021
Ballarat Lifestyle Centre sells for $12.39 million, investor demand returns for regional investments
Stonebridge Property Group in conjunction with Colliers International has sold Troon Group’s Ballarat Lifestyle Centre for $12.39 million in a strong signal that investor confidence...
Read More
January 2021
SOLD: Stonebridge sells Ropes Crossing Village for $42 million
Stonebridge Property Group has sold Ropes Crossing Village for $42 million. The Centre sold to an Offshore Investor after a select off-market EOI campaign, reflecting...
Read More
January 2021
Coles Group to sell trophy Victorian supermarket investment – Coles Woodend
Stonebridge Property Group has been appointed to sell a newly developed Coles in Woodend, a prime supermarket investment secured by a brand new 10-year lease...
Read More
January 2021
Buyers shift to pandemic proof investments as Woolworths Torquay transacts for a record sub 4% yield
Woolworths Torquay Central represented the first major supermarket sales campaign in Victoria following the extensive lockdown period. The 2,980sqm regional freestanding supermarket sold for $25,100,000,...
Read More
December 2020
Stonebridge sells Charter Hall’s Liverpool automotive asset for a premium
Stonebridge Property Group has sold ‘Mitsubishi Liverpool’ 375-377 Hume Highway, Liverpool NSW for $22.5 million, just days after closing a public expressions of interest campaign....
Read More
November 2020
Central Coburg Townhouse development site for sale
A 5,088sqm permit approved site for 36 townhouses is for sale in the heart of Coburg and within the Pentridge Prison redevelopment precinct. Stonebridge Property...
Read More
November 2020
Fawkner offers prime asset to yield hungry market
– BP Westernport Service Centre returning $1.048m pa – Melbourne based property funds manager Fawkner Property has put its BP Westernport Service Centre in Cranbourne...
Read More
November 2020
Troon Group‘s Ballarat Lifestyle Centre on the Market
Ballarat’s Troon Group has listed its brand new Ballarat Lifestyle Centre as the Large Format Retail sector enjoys relatively good times on the back of...
Read More
October 2020
Woolworths Torquay Central to fill major investment demand / supply imbalance
Stonebridge Property Group’s listing of the standalone Woolworths Torquay Central supermarket will test the market for a product that has long been an investor favourite,...
Read More
October 2020
Stonebridge negotiates $150 million Glenmore Park Town Centre sale
Stonebridge Property Group has negotiated the single largest neighborhood centre transaction in 2020 with HomeCo’s $150 million purchase of the Glenmore Park Town Centre. Located...
Read More
September 2020
Stonebridge Property Group launch National Asia Practice Platform
Pandemic drives slowdown in private off-shore Asian investors, whist Domestic Asian investors remain active The COVID-19 pandemic has driven a fall in private off-shore Asian...
Read More
September 2020
Stonebridge to merge with new Melbourne agency
Leading Sydney based commercial real estate group, Stonebridge Property Group, will open a Melbourne office this month, following a merger with a group of Melbourne’s...
Read More
June 2020
Iconic neighbourhood centre sells for $47 million
Shopping centre in Newcastle transacts for $47 million as demand for neighbourhood centres hold firm Stonebridge Property Group’s Philip Gartland in conjunction with JLL’s Nick...
Read More
January 2020
Sold for $68 million – St Marys Village, NSW
Stonebridge Property Group, in conjunction with McVay Real Estate, is pleased to announce the sale of St Marys Village for $68 million. St Marys Village...
Read More
September 2019
The US shows there’s an upside to current retail shifts
There has been much gloom about Australia bricks and mortar retail recently, from the demise of the department and discount department store, to the closure of...
Read More