KordaMentha sells Woolworths anchored shopping centre
KM Property Funds has sold a modern, Woolworths anchored shopping centre in Adelaide’s north east.
The Stables at Golden Grove collected $37.7 million from local investor.
On 2.06 hectares with 260 car parks, it contains 5609 square metres with 10 specialty stores and two kiosks.
Woolworths runs a BWS Liquor alongside the supermarket.
Savills’ Matt Holland and Steven Lerche with Stonebridge Property Group’s Justin Dowers and Philip Gartland were the agents.
The Stables
Placer Property completed The Stables in 2015.
At 1495 Golden Grove Road, it forms part of a master planned community with 900 dwellings.
The main trade catchment is affluent, the agents said “expected to grow from c28,600 to 31,850 by 2046,”.
Retail expenditure is expected to grow from $565.8m to over $1.02 billion over the same period, they added.
Golden Grove is about 22 kilometres from town.
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