Charter Hall bags unique Sydney mall
Charter Hall has bought one of three triple supermarket anchored Sydney shopping centres.
Also with a permit for a multi-building extension, Chullora Marketplace cost $145 million following a deal agreed June.
The result reflects a 5.5 per cent net passing yield.
JLL’s Nick Willis and Sam Hatcher represented the vendor, Henroth Investments, controlled by developers Stanley and John Roth, which held 35 years.
The deal comes in the week we reported Charter Hall, for the new Convenience Retail Fund, paid Wesfarmers $290m for six Bunnings backed warehouses.
Charter Hall is also buying another triple-supermarket anchored shopping centre, in Melbourne, from Elanor Investors Group and Heitman.
It has also recently acquired Corio Village in Geelong, from Chris Lock’s IP Generation, and Glebe Village in Sydney’s inner west, offered by Tipalea Partners.
Permit-ready chunk
Chullora Marketplace occupies 5.7 hectares with 867 car parks.
A chunk of the site is permit-ready for a mixed-use project with retail, a 130-place childcare and 78 apartments – all up with 33,000 square metres in several six storey buildings.
The mall, with 19,322 sqm -790 sqm which is non-retail – already has a moving annual turnover of $168m, the bulk ($112m) from Aldi, Coles and Woolworths.
Chullora is about 15 kilometres south west of Sydney’s CBD.
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