Charter Hall buys inner-west Sydney supermarket
Charter Hall has purchased a Coles-backed supermarket at Five Dock for $25.9 million.
The vendor, Macquarie Publications, paid $19.66m for the 3333 sqm investment, forming the ground floor of an apartment building at 4-12 Garfield Street, in 2017.
On a 3550 sqm site, the property includes 163 basement car parks.
The sale price reflects a 4.29 per cent net yield.
Coles is on an agreement expiring in 2036; with options it can stay until 2076.
Colliers’ James Wilson and Alex James-Elliott were the agents (story continues below).
Macquarie acquired the supermarket from the Koundouris Group of companies, which sold the Superbarn business to Coles in 2016.
Charter Hall will hold the property in its Direct Long Wale Fund.
Five Dock is nine kilometres west of Sydney.
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