Stonebridge Property Group is pleased to announce the sale of Williams Landing Shopping Centre for $60,000,000. The Centre represents the first Victorian neighbourhood transaction of 2024 and sold to an experienced fund manager alongside 1 hectare of development land.
The fully leased neighbourhood centre comprised a full-line Woolworths supermarket, childcare centre, 26 specialty shops, 4 kiosks, an ATM and 12 office suites. The Centre is situated in the heart of the Williams Landing town centre, nearby the Princes Freeway and Williams Landing Train Station, 20 km* west of the Melbourne CBD.
Settlement for the shopping centre is due on 15th March 2024, while settlement for the adjacent land is due in the second half of this year.
Justin Dowers commented, “Williams Landing Shopping Centre is the first Victorian neighbourhood centre to sell in 2024 and follows a string of sales towards the end of 2023.”
“Neighbourhood centres continue to be a highly attractive investment and have remained robust in a high inflationary environment. This continued demand for neighbourhood centres is driven by low forecast supply, high net migration and stable investment fundamentals.”
Mr. Nathan Blackburne, Managing Director of Cedar Woods commented “Having developed Williams Landing Shopping Centre and seen the asset mature, this sale is consistent with our strategy of adding value to our developments and then recycling capital back into the business and new opportunities.”
“We have generated a strong profit, further strengthened our balance sheet and have retained land for a string of development opportunities that will support earnings over coming years.”
For further information please contact any of the exclusive selling agents below:
| Justin Dowers National Partner +61 438 098 805 jdowers@stonebridge.com.au |
Kevin Tong Partner – Asia Practice +61 422 848 818 ktong@stonebridge.com.au |
Philip Gartland National Partner +61 403 582 324 pgartland@stonebridge.com.au |
About Stonebridge
Stonebridge Property Group is a national commercial real estate agency offering market leading knowledge and expertise from some of Australia’s best known and most highly regarded agents with a focus on the retail and development site sectors as well as our specialized Asia Practice division.
Please visit our website at: https://stonebridge.com.au/
