Woolworths Coomera East Shopping Centre has emerged as an opportunity for savvy investors. Boasting a 1.75-hectare site, this high performing Woolworths anchored shopping centre has eight specialty tenancies and further value to be unlocked with a DA Approved pad site.
The shopping centre is anchored by a strong 15-year lease to Woolworths, with options until 2076, who occupy 83% of the fully leased centre, with other tenants including BWS and seven other specialty shops. A value-add opportunity exists on a vacant parcel of land at the southern boundary of the site, with a DA in place for 51 residential apartments and 2,100 square metres of retail/commercial suites.
Colliers Retail Middle Market experts, James Wilson and Harry Dever, are offering Woolworths Coomera East Shopping Centre for sale.
Renewed demand from institutional mandates will compete with established domestic and offshore private capital for the opportunity, according to Wilson.
“Domestic and offshore private capital has been the dominant purchaser category for the neighbourhood shopping centre sector during the current cycle, however recent acquisitions by institutional capital for high quality assets in Q2 2024 has increased the purchaser pool for this highly prized asset class,” he said.
“Coomera East Shopping Centre offers investors the security of a modern high performing Woolworths anchored neighbourhood shopping centre, combined with pad site that features development potential in one of Queensland’s fastest growing growth corridors.”
Dever added: “With a projected population surge in the main trade area at a growth rate of 3.4% per annum coupled with escalating retail spending at 5.6% per annum respectively, Woolworths Coomera East not only promises immediate returns but also long-term growth opportunities for potential investors.
“As only the second Woolworths anchored shopping centre to be publicly offered for sale in Queensland in 2024, it is an opportunity for investors to deploy pent-up capital into a secure investment where income is underpinned by inflationary resilient tenants.”
A 100% interest in Coomera East Shopping Centre is being exclusively offered for sale via Expressions of Interest (EOI) closing 2pm (AEST) on Wednesday 17 July 2024.