Woolworths sells two regional NSW supermarkets for a combined $45.7 million

Woolworths has sold two near new supermarkets in regional New South Wales for a total price of $45.7 million.

The assets are selling on a blended yield of 5.7 per cent.

Colliers International’s Lachlan MacGillivray, James Wilson and Alex James-Elliott marketed the assets which were both completed in 2016.

The largest building by area is in Nelsons Bay, about 60 kilometres north-east of Newcastle, in the state’s Hunter Region, and spreads 4400 square metres.

Woolworths is the anchor tenant – prior to being listed, it signed a 12-year lease to occupy 30-32 Stockton Street (pictured, left).

The supermarket is joined by liquor outlet BWS and a chemist. On a fully-leased basis, this asset has the potential to return annual rent of $1,428,062.

In Lisarow, about five kilometres north of Gosford, an investment also occupied by Woolworths on a new 12-year lease term, contains an internal area of 3939 sqm.

Within an area the agents say is supported by a relatively affluent catchment, this complex, 3 Parsons Road (pictured, top), contains 216 at-grade car parks.

Rival supermarket giant Coles has also been selling new retail investments with a leaseback recently.

This week, we reported Coles can expect to bank about $41 million from the sale of Aurora Village, in Melbourne’s northern suburb of Epping. In June, it listed a $25 million complex in Drysdale, near the regional Victorian town of Geelong.

In March Coles banked $31.95 million selling a complex, on two hectares, in Riverton, Perth.

In June Woolworths paid $41 million for a shopping centre it occupied in Mordialloc, about 24 kilometres south-east of the Melbourne CBD.

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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