This article is from the Australian Property Journal archive
CENTURIA has put its Windsor Marketplace neighbourhood shopping centre in Sydney’s north-west up for sale, hoping to fetch around $25 million.
Steven Lerche and Andrew Palmer of Savills, in conjunction with Stonebridge Property Group’s Jonathan Fox and Philip Gartland, are marketing the Kable Street centre via expressions of interest closing September 19.
The offering includes a freestanding, separately-titled MyHealth Medical Centre that recently signed a 10-year lease.
Windsor Marketplace underwent a full redevelopment in 2011 and is anchored by Woolworths and BWS, which take 79% of its gross lettable area on a lease until 2033. Tenants also include nine specialty specialty shops, including two kiosks and one ATM.
“Given the lack of quality neighbourhood shopping centres that are formally offered to the market within the Sydney metropolitan area, we are anticipating the expressions of interest campaign will draw significant interest from local, interstate and offshore investors,” Palmer said.
Purchasers have the ability to on-sell the MyHealth Medical Centre property, and there is also the potential to subdivide and on-sell or rent out the freestanding residential cottage fronting Baker Street.
The property is in the Hawkesbury region, in north-west Sydney’s growth corridor, around 55 kilometres from the CBD.
Australian Property Journal
