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.
