Stonebridge is pleased to announce the sale of Kogarah Town Centre for $47.5 million to a Private Investor, reflecting a passing yield of 6.95%.
Kogarah Town Centre comprises a Sydney metropolitan neighbourhood centre offering over 6,485sqm of lettable area, anchored by Woolworths and Aldi, 1 mini major, 18 specialty tenants and the Kogarah Tavern.
Stonebridge Director Philip Gartland said, "The sale of Kogarah Town Centre is our fourth off market retail transaction for the year and our third in Sydney. The acquisition of well-located properties close to or above transport infrastructure with less conventional tenure is becoming increasingly attractive to purchasers in today's market, with the increasing intensification of inner metropolitan areas & the future latent potential that might exist on these prime sites."
