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Bundoora Square Shopping Centre Snapped up

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Five Squared has scooped up the Bundoora Square Shopping Centre in Melbourne's north east for $26 million, according to The Australian Financial Review.

The developer purchased the property on Settlement Road and Plenty Road from CoINVEST on a tight yield of 6.2 per cent.

The shopping centre is anchored by a Coles supermarket and includes close to 100 shops, including Safeway, a post office, medical centres and Psarakos Markets.

The AFR reported that the property was part of a three-asset portfolio sold by coINVEST For over $45 million. The other properties sold to private buyers.

All three transactions were negotiated by JLL's directors of retail investments Stuart Taylor and Stephen Bolton.

  

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Article originally posted at: https://theurbandeveloper.com/articles/bundoora-square-shopping-centre