Bayley collects c$22m from south Sydney shopping centre
Bayley Property Group has sold the strata titled Oatley Village Square, in Sydney’s south, for a speculated $22 million.
The price for the 3523 square metre asset with 120 car parks at 47-67 Mulga Road, Oatley, reflects a 4.81 per cent initial yield.
The space forms the lower levels of a mixed-use complex also with apartments.
CBRE’s James Douglas, Joe Tynan and Michael Hedger were the agents.
Oatley Village Square
Coles and Liquorland anchor Oatley Village Square – covering 81pc of the area and contributing to 86pc of the income.
An accountant, massage parlour, physiotherapist, pizza restaurant and wellness centre with spa occupy some of the specialty spaces (story continues below).
“The incoming purchaser was attracted to Oatley Village Square’s metropolitan location and strong underlying investment fundaments, with the asset being the dominant centre and only supermarket offering in the well-established and densely populated primary trade area,” Mr Douglas said.
A fortnight ago, we reported Charter Hall paid $25.9m for a Coles-backed supermarket, at inner-west Five Dock – a deal which reflected a 4.29pc return.
Also this month, Mirvac sold Cherrybrook Village, in the north west, for $132.8m – a five pc fully let yield.
Oatley is about 23 kilometres from town.
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