Another neighbourhood shopping centre has sold, this time in Melton South.
Melton Station Square, at the north west corner of Brooklyn and Station roads, has collected $43 million from a local syndicate.
The vendor, a private family, paid $10.5m in 2013 before undertaking a renovation and extension three years later.
Now with 4483 square metres of lettable area, the complex contains 12 specialty stores and a Coles-backed supermarket.
On c1.36 hectares abutting a service station, the asset also includes 215 car parks (story continues below).
It is the second metropolitan Melbourne neighbourhood shopping centre to trade this year – last week, Woolworths sold the near-new Greenvale Lakes mall, on 1.42ha in Roxburgh Park, for $27.7m – a 3.95pc return.
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