Newmark sheds land beside Warrnambool mall
Newmark Capital has sold two blocks on the eastern side of the Gateway Plaza at Warrnambool, which it bought three years ago.
The 5.5 hectare rectangle shaped amalgamation, 1M/154 Raglan Parade was also offered for sale or lease, last March.
Zoned Commercial 1, it was marketed for its development upside for a large format retail asset.
The busy road is passed by over 17,000 vehicles a day.
The Gull Group, directed by Alaistair Gull, is the buyer – for $6.1m.
A c15,000 square metre investment is planned.
MA Financial, which sold Newmark the mall for $63.2 million, valued the parcel separately at $5.6m.
Colliers’ Tim McIntosh and Will Heffernan with Harris & Wood’s Danny Harris were the agents.
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