Socceroos doctor sells another Woolies
Sports doctor Peter Brukner has sold another supermarket bought with a leaseback from Woolworths’ development arm, Fabcot.
Following an off-market deal, the Glenorie asset, 936-938 Old Northern Highway (pictured, top), fetched $19 million – a 4.74 per cent net passing yield.
The executive paid $10.96m in late 2010; the 3675 square metre complex on 1.18 hectares, the only supermarket in the catchment, had only just been completed.
Woolworths’ rental agreement includes turnover rent.
“The sale reflects continued demand for freestanding assets with long-term income and growth potential with the supermarket’s sales approaching the turnover rent threshold,” Stonebridge’s Philip Gartland, who brokered the deal with Justin Dowers and Alex James-Elliott said.
The deal comes 10 months since we reported Mr Bruker, a doctor for the Socceroos, also an author and researcher, sold the Woolworths anchored Bayview Central at Curlewis in Victoria, for $20.2m, to a China based investor.
Mr Brukner paid Fabcot $17.1m for that property in 2017.
On 1.3 hectares, it contains 4343 sqm including seven specialty stores.
It also traded off-market via Mr Dowers, with Kevin Tong.
Last week we reported Charter Hall sold a Cootamundra backed Woolworths shopping centre for a 5.5pc yield.
Glenorie is about 45 kilometres north west of Sydney.
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