HomeCo buys, sells east coast retail assets
HMC Capital has contracted to buy and sell east coast retail investments on behalf of the HomeCo Daily Needs REIT.
In the biggest deal the group will pick up the Shellharbour region Warilla Grove Shopping Centre for $56.5 million.
On 3.27 hectares, developed in 1969 but since renovated and extended, it contains 11,764 square metres anchored to Aldi and Woolworths with 30 specialty stores.
There are also c560 car parks.
Bundall sale
Meanwhile, HomeCo Bundall is selling, for $41.5 million.
Three kilomtres south west of Surfers Paradise, the complex contains eight stores.
Carpet Call, Goodlife, Nick Scali Furniture and DeRucci Kitchen Warehouse are amongst the occupiers.
There are also pop-up tenancies – presently available on a weekly basis – and 328 car parks.
Settlement is scheduled next month.
The property previously traded in April, 2021, for $33m.
More to come.
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