ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Civic Square Shopping Centre Snapped Up

151001-civic-square-1_620x380

An offshore Chinese investor has acquired the Civic Square Shopping Centre in Croydon for $30.51 million.

The property, which is anchored by a Woolworths supermarket and has 18 specialty retailers, was acquired on a sharp passing yield of 6.17 per cent.

The centre, which was built in in 1985, and refurbished in 1991, was sold on a building rate of $4,789 per sqm. The centre is located at 224-238 Mount Dandenong Road, Croydon and has a floor area of 6,371sqm and 292 car spaces.

The Expressions of Interest campaign attracted 13 formal offers, including a mix of local and interstate private investors, syndicators, institutions and offshore investors.

The sale was negotiated by CBRE's Mark Wizel and Justin Dowers.

  

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://https://theurbandeveloper.com/articles/224-238-mount-dandenong-road-croydon