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 a yield of 5.5%. Unconditional exchange were achieved in under 3 weeks from EOI close.

Located on a large 12,340 square metre site, Ropes Crossing Village comprises a strong performing Coles supported by a quality non-discretionary tenancy mix. The Property underwent a substantial expansion and upgrade to a total lettable area of 5,805sqm with on-grade parking for 208 vehicles, returning a defensive income stream supported by a long through-cycle WALE of 11.7 years.

A 2-stage mixed-used development has recently been approved with the first stage comprising second level commercial suites and stage 2 comprising a Coles expansion, additional specialty retail, expanded parking and 128 residential units across 3 buildings.

Stonebridge Property Group’s Carl Molony, Philip Gartland and Jonathan Fox negotiated the sale.

Stonebridge Partner Carl Molony said the transaction is another example of competitive processes driving strong pricing and short due diligence periods:

“The strength of the Stonebridge relationships, database and collaborative approach to the sales process ensured that a wide range of domestic and offshore, private and institutional buyer offers were received for the property. This was during a period of border closures that required practical solutions from our team and culminated in an exceptional result for our client.”

For further information please contact –

Carl Molony | +61 439 032 028 | cmolony@stonebridge.com.au

Philip Gartland | +61 403 582 324 | pgartland@stonebridge.com.au

Jonathan Fox | +61 402 147 780 | jfox@stonebridge.com.au

Latest news

February 2021
Mornington Village Shopping Centre on the Market to capitalise on Strong Neighbourhood Shopping Centre Market demand
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
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