Andrew Myer to Reap $55 Million From The Well Shopping Centre, Camberwell

Jones Lang LaSalle’s David Bowden and Simon Rooney are marketing the fully leased asset, which returns $4.3 million per annum. A speculated sale price of about $55 million would equate to a yield of about 7.8 per cent.
The Well is the second major suburban strip-based shopping centre to come to the market recently.
After months of speculation, Challenger put its Jam factory centre in South Yarra on the market four weeks ago, with a price tag of about $110 million.

Mr Myer recently sold a suburban bulky goods store for about $10 million, and has listed for sale a portfolio of three office suites for about $3 million.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of