Stonebridge Property Group have exclusively transacted Woolworths Curlewis Shopping Centre for just over  $20,000,000 to a first-time investor. Justin Dowers and Kevin Tong handled the off-market sale on behalf  of a Victorian private investor with the purchaser being sourced by Stonebridge’s Asia Practice division.  

Woolworths Curlewis Shopping Centre was originally developed by Fabcot in 2015 and is anchored by a  full-line Woolworths supermarket plus 7 specialty shops, a kiosk and ATM.

The Centre is located in the  heart of the Bayview Estate Curlewis, approximately 19 km* east of Geelong and 90 km* from the  Melbourne CBD.  

The transaction is only the third neighbourhood centre to have been publicly announced as sold in Victoria this year, highlighting the rarity of similar offerings.  

Kevin Tong commented “Our Stonebridge Asia Practice team spend a lot of resources into educating the  this sector of the market, and it is through our marketing channels that have helped source a lot this  capital current back in the retail investment market 

The eventual purchaser was a first time investor who was ultimately attracted to the Woolworths covenant,  despite being in a regional location. 

This sale follows a run of recent sales the Stonebridge team have done to Asian buyers since May 2024,  and we only expect this to keep going.”  

Justin Dowers commented “The average yields for neighbourhood centres in FY25 so far is 5.90% which  is below the current cost of debt. The sale of Woolworths Curlewis Shopping Centre is no exception to this,  which shows the level of confidence investors have in this highly defensive sub sector of the market.  

“We are seeing buyers continue to be attracted to the non-discretionary nature of these assets, which are  commanding a premium.” 

Following the sale of Woolworths Curlewis, the Stonebridge team of Justin Dowers and Philip Gartland will  be bringing to market a neighbourhood centre with a similar composition in Western Australia. Further  details of this opportunity are available upon request. 

Related reading

Regional NSW service station sold for $9.15m - Stonebridge 

Sydney Northern Beaches, Dee Why Grand Shopping Centre sold - JLL and Stonebridge 

Brand new inner Melbourne Woolworths supermarket for sale - Stonebridge & Cushman & Wakefield