A stratum Supa IGA supermarket in Thomastown has just been sold, representing the 9th investment asset to transact through the Stonebridge National Investments Sales July Portfolio.

The 2,032 sqm strata supermarket sold for $11,300,000, which represented a sharp 4.15% yield despite the limitations associated with the strata title. The supermarket was sold to a local private family.

Stonebridge Property Group agents Kevin Tong, Rorey James and Justin Dowers handled the transaction which was highly sought after from both local and international private investors.

Rorey James noted, “We recognise the eventual sale price and the yield to be a strong result considering the supermarket was effectively sold on a strata title. Given everything happening in the market, there is a real sense of flight to quality from local and Asian investors. The most sought after investments are ASX listed tenants with long initial lease terms, this was evident in our successful Coles Lalor Campaign two month prior to Supa IGA.”

 

“Asian buyer demand was very prevalent in this sales campaign with 31% of the enquiry coming from this buyer profile. This price point, tenant profile/security is in the sweet spot for a lot of the private Asian clients which is why we witnessed this strong demand” added Mr. Tong

The sale represents the 9th investment asset to transact through the Stonebridge National Investment Sales July portfolio, with NSW and QLD assets being handled through Michael Collins and Tom Moreland from Stonebridge.