This article is from the Australian Property Journal archive
A PRIVATE investor has taken the Woolworths Rosehill to the checkout, acquiring the supermarket for $13 million on a 5.3% yield.
The 4,012sqm site at 28/30 Oak Street in Sydney’s western suburbs comprises a freestanding Woolworths and BWS store over a gross lettable area of 2,440sqm, and 99 on-site parking spaces.
Stonebridge Property Group’s Philip Gartland and William Blanch negotiated the off-market transaction on behalf of the Charter Hall Retail REIT.
Gartland said the speed with which transaction took to complete reflects the current strong demand within the market for standalone supermarket assets.
“Regardless of the relatively short 2.97 year WALE, the asset was highly sought after due to Woolworth’s strong trading history in this location since 1999 and the exceptional position of the store within an increasingly-dense residential area,” he said.
The site is leased to Woolworths on a 20-year deal from November 21st, 1999, with 4×5-year option, and returns $689,158 per annum net fully leased.
Australian Property Journal
