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.

The sale, which is the final asset in Charter Hall’s Direct Automotive Trust No.2 fund, reflects a yield of 4.66% and a significant premium to Charter Hall’s acquisition of the asset in 2018. The asset sold to a Melbourne based private investor following a highly competitive process which yielded 10 first round offers.

375-377 Hume Highway, Liverpool is located in the western suburbs of Sydney, approximately 27kms south west of Sydney CBD and 18kms south of Parramatta CBD. The Property comprises a 2018 purpose-built automotive dealership, leased to Australia’s number one automotive group Eagers Automotive (ASX.APE) with 12 years remaining on their lease.

Stonebridge Partner Philip Gartland, said the weight of demand has created a perfect environment for investor demand for high quality assets on long lease terms to strong tenant covenants.

“Private investors and syndicates are desperate for high quality, modern income producing assets particularly those with outstanding land fundamentals, but stock levels are at all-time lows. 17 buyers requested contracts and 10 of those lodged competitive offers – very strong numbers that resulted in attractive pricing and an unconditional exchange. The investor landscape is changing quickly as investors are broadening their mandates in order to secure stock”. Melbourne based Partner Justin Dowers said

“The cost of debt has never been lower providing investors with healthy arbitrage yields on income producing investments. The profile of buyer group was surprisingly diverse, from private investors, commercial office investors through to syndicators and Asian investors.

Enquiry from Melbourne based private investors has also exploded over the past few weeks as they emerge from the frustration of lockdown, with this putting additional pressure on pricing for quality assets”.

The sale of Mitsubishi Liverpool follows the sale of Glenmore Park Town Centre by Stonebridge for $150 million to HomeCo in September.

For further information please contact –

Phil Gartland | +61 403 582 324 | PGartland@stonebridge.com.au

Justin Dowers | +61 438 098 805 | Jdowers@stonebridge.com.au

Latest news

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
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