Jessica Micallef
Coles Woodend has been put on the property market.
The newly-developed supermarket, which opened it’s doors to customers in late 2018, has been labelled a “prime supermarket investment” as Coles Group aims to sell the site. The 3780 square metre supermarket includes a Liquorland, more than 180 car parking spaces and a new 10-year net lease to Coles Supermarkets Australia.
Real estate agency Stonebridge Property Group has been appointed to sell the supermarket, which was put up for sale last Thursday. Director Kevin Tong said it was very common for Coles to sell its supermarkets to investors.
“It’s a very good investment opportunity,” he said. “Only a handful of supermarkets come on the market and any time they do, investors take every chance because they are a safe investment.
“The investor appetite for supermarkets is growing consistently and we think Coles Woodend will be an extremely attractive opportunity for savvy investors seeking highly secure income with growth potential.”
The property will be sold via an expression of
interest campaign that closes on March 3.
Stonebridge Property Group partner Justin Dowers said Coles had picked the perfect time to offer the “trophy asset” to the market.
“Coles Woodend ticks all the boxes, it’s a blue-chip supermarket achieving strong sales growth, a modern building with depreciation benefits, a long 10-year lease and a prime position opposite Woodend train station,” he said. “Coles Woodend is dominant in its trade area serving … over 30,000 people and forecast to grow strongly.
For further information about the sale, contact Justin Dowers: 0438 098 805 or jdowers@stonebridge.com.au
