The Fyshwick Fresh Food Markets - a Canberra institution and the capital's most successful and oldest markets - have been sold to a local private investor for circa $42 million.
CBRE's Canberra Managing Director Andrew Stewart steered the sale campaign for the property in tandem with CBRE National Director, Retail Investments, Peter Rossi.
Mr Stewart said the sale campaign had generated significant interest, with seven bidders competing for the 2.65ha site, which is situated 6km to the east of Canberra City Centre.
"There was good interest from both national and local purchasers, however it came down to the local buyers having a better understanding of how the markets operate and, as a result, being prepared to offer more for what is an iconic property in Canberra," Mr Stewart said.
The Fyshwick Markets were established in 1965 when farmers would gather at the site each Friday to sell fresh produce from the back of their trucks.