This article is from the Australian Property Journal archive
A WOOLWORTHS supermarket anchored shopping centre at Portarlington on Victoria's Bellarine Peninsula has sold for $8 million.
The sale price reflects a yield of 5.4%. CBRE’s Mark Wizel, Justin Dowers and Rorey James negotiated the sale.
It is the only major supermarket within the catchment area.
Located at 8 Brown St, 28km from the city of Geelong, the 1,516 sqm building occupies a 1,914 sqm land area. It was sold with a 15-year lease to Woolworths, with two further 10-year options to 2048, currently generating a net income of $439,000 p.a.
Australian Property Journal
