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Macquarie Countrywide is expected to reap around $100 million from the portfolio sale of ten supermarket assets around Australia.
The fund manager, which owns some 270 assets internationally, is firmly targeting the private investor market with its latest portfolio, with assets ranging in price from a few million, up to $15 million.
Two Victorian supermarkets – in Kyneton and Kerang – are amongst the biggest in the portfolio, and are expected to fetch around $13 million each.
Macquarie Countrywide chief executive officer Steven Sewell says most of the assets it will sell have had some sort of redevelopment, and will be signed with long leases to tenants including Safeway, Coles and Bi-Lo.
Some of the supermarkets are part of wider complexes, which are also leased to tenants including Target, ANZ and Bendigo Bank.
Mr Sewell said funds from the sale will go into adding value to some of its other 80 Australian assets.
Gross Waddell’s Michael Gross is marketing the property with Andrew Waddell, and CB Richard Ellis’ Mark Wizel and Steven Lerche.
He said the private investor market is still strong, and is expecting demand from local and interstate investors.
Last week, Burgess Rawson sold a Safeway supermarket in provincial Victoria to a Brisbane investor for $8.3 million, on a 6.79 per cent yield. Two other supermarkets – in Lithgow, west of Sydney and Bulimba, in Brisbane, sold for more than $11.5 million. Both were purchased by Melbourne investors.
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