Black Swan founders sell Coles Lalor Plaza


The Saristavros family – founder of the Black Swan dip brand – has banked $7.38 million from a strata-titled supermarket at Melbourne’s Lalor Plaza.

The purchaser is a Chinese investor.

The vendor paid $8.3m in late 2016 – two years after selling the food company to Monde Nissen Corporation for $115m.

The 2050 square metre retail asset is leased to Coles which pays net annual rent of $468,512.

On that basis, the deal reflects a 6.3 per cent passing yield.

The occupier has under five years left on its agreement.

The asset occupies about 40pc of Lalor Plaza – at the north-west corner of McKimmies Road and Darebin Drive, 18 kilometres north of Melbourne.

CBRE’s Joseph Du Rieu, Rorey James and Justin Dowers with Gross Waddell’s Alex Ham and Michael Gross were the agents.

Over the past two years, six single tenanted Coles supermarkets have transacted in Victoria – for a total of $95m, they added.

Only one was worth less than $10m.

The average yield was 4.68pc.

In January, the Saristavros family offered a reward for information which may lead to finding the killer of patriarch Christos at a Box Hill charity event in 2000.

That businessman founded Black Swan’s operating company, Poseidon Tarama, which also produced Poseiden Dips at Clayton South from 1980.

The Lalor property.
The Lalor Plaza supermarket sold to a Chinese investor yesterday.

Share or Recommend article

Marc Pallisco

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