A unique opportunity in Western Australia’s northwest leased to supermarket giant Coles has exchanged hands for $8,000,000 in Western Australias first standalone supermarket transacting in 5 years. 

Colliers State Chief Executive WA, Richard Cash and Executive Investment Services WA, Aidan Austen brokered the deal selling the freestanding Coles Supermarket in Tom Price on behalf of private clients for $8,000,000. 

The property has been acquired by a group who are prominent in Tom Price, for a yield of 7.04% reflecting the high quality nature of the property and competitive nature of the Expressions of Interest campaign which yielded five formal offers.

Available for acquisition was a distinctive opportunity to own a property leased to a prominent national tenant, Coles. This full-line supermarket, located in Western Australia’s Northwest, stands as the sole such supermarket within a 275-kilometre radius. Its consistent turnover growth over the past decade reflects its support for Tom Price, Rio Tinto’s Mount Tom Price Mine, and the surrounding areas.

Mr Austen said “Standalone supermarkets are exceptionally scarce and highly desirable investments in Western Australia, leading to outstanding outcomes for our esteemed clients. Coles Tom Price serves as a prime illustration of a strategically positioned supermarket that supports both the local community of Tom Price and Rio Tinto’s Mount Tom Price Mine Site, along with surrounding areas.”

Mr Cash added “Colliers has initiated the sale and marketing campaign for a second standalone supermarket in the North West town of Derby this week. Woolworths Derby is poised to attract a diverse group of investors, enticed by its extensive trading history in Derby, an appealing net lease structure, and the chance to acquire a commanding, defensive asset at a cost below replacement value.”

Woolworths Derby is offered for sale via Expression of Interest closing 8th August 2pm AWST 2024.

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