Million Dollar Laurimar Shopping Centre Sale Flags Stable Income Sector


The Laurimar Shopping Centre in Melbourne has sold to an investor for $27 million on a yield of 6.1 per cent in an off market transaction, according to The Australian Financial Review. 

The Doreen centre features a Woolworths and last sold for $19 million in 2012 according to the report.

The 4707 sqm centre was completed in 2010 and forms part of the Laurimar-Delfin Lendlease residential estate.

Selling agents JLL told The AFR investors are driven to this sector of the market as income is driven by food and groceries, considered a stable sector and upholds the security of income from the asset.

Laurimar was masterplanned from the beginning and features a $118 million Town Centre with cafés and restaurants, to speciality stores, a medical precinct and full line Woolworths. With the Laurimar Primary School and Kindergarten in the heart of the Town Centre, kids and parents enjoy the convenience of quality education close to home. While the 15 hectares of extensive waterways and over 30 hectares of public open space gives plenty of room for growing families.

Laurimar is also home to Australia’s first Zero Emission Demonstration Home.

The AusZEH Demonstration House is a new 4-bedroom, detached 8-star energy rated home that aims to deliver a residential home with a net zero footprint.

The demonstration house forms part of the AusZEH project to demonstrate technologies and innovative solutions to reduce greenhouse gas emissions in the housing sector.

The home combines energy efficient design and building practices and on-site renewable energy supply and aims to achieve a net or remaining total greenhouse gas emissions of zero.

Located 30 kilometres from Melbourne's CBD Laurimar's Town Centre has a $7.2 million Community Activity Centre (CAC), which includes Laurimar Preschool, City of Whittlesea Maternal and Child Health Services, and playgroup facilities.

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