THE SHOPPING Centre, at 136 The Avenue, in Sunshine West, Melbourne, sold to a high net worth private investor for $4.95 million.
On a 13,340 square metre block, and with 3997 square metres of lettable retail area, the sale price reflects a yield of 9.6 per cent. Anchor tenant Coles contributes to the majority of the annual $565,000 annual rent. The centre, west of Melbourne, also includes 196 car park bays.
Colliers International’s Jeremy Gruzewski and Ted Dwyer marketed the shopping centre.