Windsor Riverview Shopping Centre
in Sydney's North-West growth corridor, has been acquired by Fort Street Real Estate Capital for $50 million.
The deal was brokered by Stonebridge Property Group's Carl Molony and Philip Gartland and reflected a 7.1 per cent yield.
Fort Street Real Estate Capital is a joint venture between Fort Street Capital and Dixon Advisory.
Constructed in 2006, Windsor Riverview Shopping Centre is anchored by Coles supermarket along with 29 specialties over a total GLAR of 7,923 square metres.
The centre includes undercover parking for over 325 cars.
Fort Street Real Estate Capital's Director of Investments, David Rogers
, told The Australian Financial Review that the deal had been finalised.
The shopping centre includes a site area of 1.3 hectares plus adjoining land of 2,787 square metres and provides significant expansion and value-add potential, with plans for an additional supermarket.
Windsor Riverview Shopping Centre has an Estimated Fully Leased Net Operating Income of $3,248,000 per annum.