Yarra Glen Shopping Centre, Melbourne, Sells For $8.4 Million

During the campaign, selling agency Savills estimated the shopping centre could return a fully let, annual net income of $1.02 million. A small portion at the site can be redeveloped but the majority is wetlands, expected to be preserved by the owner.

The site has frontage to Healesville Yarra Glen Road – a major thoroughfare to Yarra Valley wineries – and as such may offer revenue potential in the form of billboard-advertising. But the shopping centre is accessed via Bell Street.

Savills director Nick Peden marketed the shopping centre with Pat De Maria. Administrator Ferrier Hodgson managed the sale.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.