Stonebridge Property Group have been exclusively appointed to sell Belconnen Convenience Retail, a unique opportunity to acquire 7 high growth retail investments individually, in groups or in-one-line.
The Property, located at 2 Ibbott Lane, Belconnen ACT 2617, was completed in 2020 and is 100% leased to high quality tenants including Chemist Warehouse, Petbarn, Barbeques Galore and Belconnen Medical & Skin Clinic plus 79 basement car spaces.
Belconnen Convenience Retail is situated approximately 8 km from the Canberra CBD, within the emerging mixed-use growth precinct of Belconnen Town Centre – Canberra’s largest district. The property is co-located with Bunnings Warehouse, the Capital Food Market (reopening Nov 2023) and Westfield Belconnen, which create a dominant retail precinct with a total trade area population of 511,000 persons (Location IQ).
Stonebridge’s Alexander James-Elliott, Philip Gartland and Michael Collins are handling the sale.
Mr James-Elliot said
“Investors will be attracted to the fixed rental growth provisions and depreciation potential, as well as value-add angles including shop splits and long-term land potential. The asset offers maximum flexibility for incoming investors, with 7 individual strata lots providing a range of acquisition and divestment strategies at attractive price points.”
Mr Gartland said
“This precinct has an extremely bright future, with 315 dwellings currently under construction next door and a further 660+ dwellings under assessment or proposed in the precinct. This population growth and the upcoming reopening of the Capital Food Markets is set to transform the precinct and drive strong customer demand.”
Mr Collins said
“Chemist Warehouse, Petbarn and medical are some of the most sought after investments in the current market. With strong covenants, lease terms of up to 10 years and attractive fixed and CPI linked reviews, we anticipate strong interest from a range of buyer groups”.
Belconnen Convenience Retail Centre is for sale individually, in groups, or in-one-line by public Expressions of Interest closing Wednesday 25th October 2023 at 4pm (AEDT).