Leongatha Woolies tops $33 million CBRE supermarket auction

Leongatha Woolies tops $33 million CBRE supermarket auction
Staff ReporterOctober 27, 2019

A Woolworths supermarket in Leongatha topped the results board at CBRE’s 10th Premium Property Portfolio Auction (PPPA).

A total of four properties sold for a total of $32.7 million on an average 5.4 per cent yield.

The freestanding, 3143 square metre (GLA) Leongatha store was sold for $14.3 million on a 5.32 per cent yield to a Melbourne based investor with nine years of a 20 year lease to Woolworths remaining at a current income of $761,000 per annum net.

The tightest yield of the night went to the Woolworths Metro Abbotsford property which sold off-the-plan to a South Australian investor for $4.68 million on a yield of 4.93 per cent.

A third property, an ALDI store and two shops at Seville, sold to an international investor for $8.02 million on a 5.98 per cent yield, and a fourth property – a 7-Eleven at Armstrong Creek- sold to a second Melbourne based investor for $5.72 million on a 5.4 per cent yield.

Editor's Picks

Pipis penthouses turn heads in Bilinga
City Beat April 2025: Gold Coast unit market continue to grow, but gains slow
Scion breaks ground on Chatham, West Ryde's first new apartment development backed by Resilience Latent Defects Insurance
Sydney Anglican Property to deliver affordable houses in Bankstown and Regents Park
Sydney Park’s newest neighbours: Princeton unveils new terrace collection, Sydney Park Terraces