The site of the future Googong Convenience Centre on the ACT/NSW border has sold for $28.5 million to a private investor. 

Googong Convenience Centre will provide essential retail amenity to Googong, with the strategic 1.180-hectare site forming part of the future Googong Central Town Centre. 

Colliers, on behalf of our valued client, Stevens Group, transacted Googong Convenience Centre to a first-time retail investor, who was attracted to the significant stamp duty savings and tax efficiencies the Centre provided due to the fund-through structure. 

The campaign attracted over 150 campaign enquiries which resulted in a core market cap of 5.76 per cent and a GLA rate of $10,164 per sqm. 

The Colliers Retail Middle Market team of James Wilson and Ben Wilkinson collaborated with Matthew Winter of the ACT Investment Services team to secure the deal. 

“This transaction highlights the renewed demand for fund-through transactions secured by national tenants on long leases from top tier developers, offering significant acquisition benefits including depreciation,” Mr Wilson said. 

“With limited new developments being delivered and greater clarity surrounding debt markets in late 2024, sophisticated investors continue to bid aggressively for core non-discretionary retail product, driving strong results.” 

Once complete, the site will consist of a McDonalds, KFC, 7-Eleven, Aspire Early Learning and The Reject Shop. The Googong community continues to grow, with the Convenience Centre located close to the Googong Central Town Centre, the proposed NSW Fire and Rescue, the Googong Hotel and the future Googong High School. 

A growing community, Googong is located just 16km southeast of Parliament House.

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