Oreana divests trio of shops
Oreana has sold three new retail investments, part of the Farm Gate Local shopping centre, in Melbourne’s Clyde North.
In the biggest deal, an outlet leased to Metcash’s Thirsty Camel traded for $1.82 million – a 5.79 per cent yield.
A Domino’s Pizza next to that collected $1.4m – a 4.61pc return.
The smallest store, occupied by Barber’s Kingdom, fetched $806,000.
That result demonstrated a 5.08pc yield.
Each property featured new 10 year leases with options and fixed rent rises.
They traded to separate investors at auction.
Burgess Rawson from CBRE’s George Wilkinson was the agent.
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