HMC sells Sydney Bunnings after five years
HMC Capital is selling a Bunnings investment acquired five years ago from the Canberra Raiders.
The asset manager will finish in the black from the $64.71 million deal for the 2.33 hectare Seven Hills outlet.
Local investment house MC, on behalf of a group of high net worth investors, is the buyer.
The result reflects a 4.725 per cent net passing yield.
Low yield
HMC, then known as HomeCo, paid $56m.
That result demonstrated a 5.1pc net passing return.
The property, with a 13,440 square metre warehouse, was held in the Daily Needs REIT.
It was offered this time around with a circa six year weighted average lease expiry.
Colliers’ James Wilson and Ben Wilkinson brokered the off-market deal.
It is the priciest Australian Bunnings to trade since 2022, they said.
Canberra Raiders held it from 2012 – said to be the jewel in the crown of a large real estate portfolio.
Subscribe to our newsletter at the bottom of this page.
