This article is from the Australian Property Journal archive
COLES has offloaded another supermarket, selling a strata titled full-line offering and a Liquorland in Sydney’s West Ryde for $23.85 million to a Melbourne-based investor.
The sale price of the 4,000 sqm property below an apartment building came in at a 5.85% yield. Coles has a new 12-year lease back that returns an annual income of $1.395 million.
A private investor trading as Sommerset Property Holdings bought the asset.
Woolworths has furthered its own divestment program, listing four Woolworths and BWS-anchored assets for sale on leaseback terms with expectations of $130 million.
The properties include the recently completed and fully leased Keysborough South Shopping Centre in Melbourne, which also has eight specialty shops for a total yearly income of $1.78 million.
Also on the market are the Spring Farm Shopping Centre near Campbelltown, which has 10 specialties, the Woolworths Wadalba on the New South Wales Central Coast, and the Bakewell Shopping Centre south east of Darwin, which has a 4,800 sqm Woolworths and BWS liquor store, 12 specialties and 287 car parks.
Meanwhile, the Australian Financial Review has reported Aldi is looking to sell as much as $700 million worth of its distribution centres along the east coast with leaseback agreements.
