The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterSun 26 Feb 17

Supa Sale Shows Big Demand For Large Format Retail Sector

Bathurst-Supa-Centre-0852_620x380

Continued growth in Australia’s large format retail sector has underpinned the sale of the Bathurst Supa Centre in New South Wales for $14.67 million.

Located at 230 – 240 Sydney Road in Kelso, the Bathurst Supa Centre is one of the main large format retail complexes in New South Wales’ Central Tablelands region.

With 100% occupancy, the 7,487 square metre centre is anchored by a range of major national tenants, including Fantastic Furniture, Petbarn, Homemakers Furniture and BCF.

The complex, underpinned by a 1.801 hectare landholding, features a 170 vehicle car park and rear loading capabilities.

CBRE’s Justin Dowers and Nick Willis negotiated the transaction on behalf of vendor Crowe Horwath, with it reflecting a record result for a regional large format asset.

“As Australia’s large format sector continues to mature and evolve, we are experiencing strong investment demand for large format retail centres, from private through to institutional investors,” Mr Willis said.

“The demand for the asset class is largely being driven by premium available returns of approximately 100-150bps compared to other retail investment asset classes.”

Mr Dowers said the sale, which transacted at a yield of 7.43%, highlighted ongoing confidence in the sector.

“We are continuing to identify the strong pool of demand that exists from both local and offshore investors.

“Over the past two months, we have transacted over $70 million in large format retail assets, including the Sunbury Showrooms in Victoria for a 6.5% yield to a Chinese investor.”

Properties and Pathways Managing Director Cal Doggett said he acquired the asset after identifying significant value-add potential that could be unlocked in the short to medium term.

“The acquisition also presented an attractive annuity to our loyal investors with a solid 9% p.a. whilst we work behind the scenes in creating further capital appreciation.

"The asset also sits in a growth region exemplified by Bunnings’ recent 72% expansion in late 2015 and a population growth, which continues to significantly outperform the national average.”

Bathurst is supported by strong manufacturing, agricultural and education industries.

RetailAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
View All >
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
Third.i Crows Nest Dolls House render EDM
Build-to-Rent

Thirdi Scraps Office Tower for Crows Nest Over-Station Site

Vanessa Croll
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
The WA government’s acquisition is to become a part of its bid to improve housing supply in the capital...
LATEST
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Third.i Crows Nest Dolls House render EDM
Build-to-Rent

Thirdi Scraps Office Tower for Crows Nest Over-Station Site

Vanessa Croll
4 Min
Hotel

Perth Hotel New Role Revealed After $105m Sale

Lindsay Saunders
2 Min
Kangaroo Point Aria Canopy House Revised DA Approval hero
Development

Aria’s Revised Tower Greenlit for Inner-City Kangaroo Point

Phil Bartsch
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/bathurst-supa-centre-sale-shows-big-demand