The Ex-Masters in Sunbury is being offered for sale, providing an exceptionally rare opportunity to acquire a major investment fully leased to Home Investments Consortium Company Pty Ltd with strong future repositioning potential. Stonebridge’s Justin Dowers and Kevin Tong have been exclusively appointed to sell the  Ex-Masters in Sunbury via an Expressions of Interest campaign. 

The Property comprises a purpose-built ex-Masters Home Improvement, constructed in 2014 to a high standard. The  Property is 100% leased with a 9.5-year WALE and annual increases, generating a secure and growing income stream (guaranteed by an ASX listed company). Spread over a GLAR of 13,645 sqm, the Property has an expansive floor plate  that provides excellent repositioning potential.  

Mr Dowers said “This is a high quality and highly unique asset. An incoming purchaser will benefit from a 20-year net  lease to a strong covenant (10 years remaining) plus future potential to reconfigure the Property as a dominant LFR  centre. An opportunity like this is exceptionally rare, with almost every ex-Masters in the country being owned by HMC  Capital, leaving just a handful privately owned.  

Large format retail is currently in high demand driven by continued strong population growth in Australia. We are  witnessing strong rental growth across new LFR projects as vacancy drops and retailers anticipate increasing  household needs.”  

Situated on a substantial 3.631-hectare triple-fronted site, the Property benefits from substantial exposure to Vineyard  Road, the main arterial into Sunbury, which sees some 4 million vehicles pass annually.1 The suburb is approximately  41 km* north-west of the Melbourne CBD. 

Mr Tong said “Sunbury is highly underserviced by dedicated large format retail centres with just one Centre in the  catchment providing a lettable area of 5,500 sqm. This leaves a substantial market gap with many national LFR  tenants not having a store in the catchment. In addition to the current undersupply, Sunbury’s population is expected  to continue growing at over 4% p.a. which equates to an additional 66,186 residents in the catchment by 2046.” 

Sunbury’s rapid growth is being facilitated by numerous housing estates like the Rosenthal Estate directly adjacent to the Ex-Masters Sunbury alongside transformational infrastructure projects like the recently completed $1.8 billion Sunbury Line upgrades.  

The Expressions of Interest campaign for the Ex-Masters Sunbury closes Thursday 28th November 2024 at 5:00pm  (AEDT). 

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