Coles buys another town centre site
Coles has quietly snapped up another town centre site, this time at Tahmoor, in New South Wales’ Macarthur region.
The 1.55 hectare site – an amalgamation of 16 lots created in 2008 – cost $15.4 million including GST.
Bound by George, Larkin and York streets, and Thirlmere Way, a supermarket based shopping centre is planned.
The group has form selling assets like this after completion.
Tahmoor is about 90 kilometres south west of Sydney’s CBD.
Coles boosts book
Coles has boosted its real estate portfolio this year including in Melbourne, with a Balaclava car park from the City of Glen Eira council abutting a supermarket it bought in 2023 from the landlord.
It has also recently acquired five sites from Mirvac including, again in the Victorian capital, the Smiths Lane Town Centre site at Clyde North, for $17m, and Donnybrook, in the north.
The other three blocks are at Googong near Canberra, Cobbity, in the Macarthur Region and, in Brisbane, at Greenbank (part of the Everleigh project).
Coles also recently bought the Orana Town Centre site at Clyde North, in Melbourne, from Balcon Group.
Spreading 3.53ha and permit-ready for a shopping centre, it cost $19.5m.
JLL’s Sebastian Fahey and David Mahood marketed the Tahmoor site for two families which amalgamated the blocks,
There has been limited retail development in the catchment since this proposal was conceived 17 years ago, they said.
Subscribe to our newsletter at the bottom of this page.
