A freestanding Coles supermarket in Middle Camberwell Victoria, has transacted for $37,000,000 representing a fully leased yield of 4.42%. The supermarket is a 2018-built freestanding Coles supermarket + Liquorland with 2 ground floor specialty shops. The Property contains three levels of undercover car parking, two basement levels plus ground for 209 vehicles. The Supermarket is situated on a Commercial 1 Zoned landholding in Camberwell, 9 km* east of the Melbourne CBD.  

Stonebridge Property Group’s Justin Dowers, Kevin Tong and Philip Gartland exclusively handled the sale on behalf of Coles Group which was purchased by Trident Capital Group.  

Mr. Chin He, Managing Partner of Trident Capital Group commented “Trident's philosophy on property investing is centered on acquiring properties at the right price and at the right time." 

“Our companies comprehensive research and due diligence revealed that Coles Middle Camberwell is an excellent long-term investment opportunity..  We believe that this asset is a once-in-a-generation opportunity, as blue-chip commercial properties like this are not readily available on the market. We are confident that this asset will provide protection from short-term market downturns while delivering significant capital appreciation in the medium to long term.” Added Mr. Chin He. 

Kevin Tong partner of Stonebridge Property group commented “The Coles Middle Camberwell campaign captured a high level of enquiry from offshore buyers as well as local investors, with the eventual purchaser being a fund backed by Asian capital. Trident Capital Group were able to secure this property based on their long term vision and understanding of the current property market dynamics.”

“Capital flowing out of Asia has continued to grow in 2023, especially off the back of the loosening of borders in China and the booming economy which Singapore is currently witnessing. For the larger supermarkets and shopping centres we are seeing the emergence of newer funds backed by private Asian capital who are seeing better value in the larger scale asset.”

“The recent fall in the Australian dollar has made it more favourable for overseas investors to acquire properties in Australia, which has led to increase enquiry numbers over the last few weeks.” Added Mr. Tong 

Mr. Dowers also added that “Coles Middle Camberwell essentially represents the 2nd Victorian freestanding supermarket to transact in 2023 and reflects the limited supply available currently..”

“Metropolitan freestanding supermarkets continue to highly sought after given the rarity of these being offered to the market, especially in prime suburbs such as Camberwell.”

To request a sales analysis please contact either of the selling agents via the below contact details.

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