The freestanding Coles supermarket in Hampton Melbourne has sold for $17,200,000 representing a sharp 2.70% yield and $3,261/sqm on land value. The supermarket was held by the previous owners for over 35 years and comprised a Coles Supermarket + Liquorland on a 5,274 sqm Commercial 1 Zoned landholding, 15 km* south east of the Melbourne CBD.

The transaction is a continuation of sharp yields that have been recorded in the Bayside area over the last decade, including Woolworths Middle Brighton and Coles Mentone.

Stonebridge Property Group’s Justin Dowers and Kevin Tong exclusively handled the sale of the Property through a public expressions of interest campaign which attracted strong interest and multiple offers on contract from a wide buyer pool highlighting the demand for quality retail property with strong underlying land fundamentals.

Justin Dowers said “Bayside supermarket and shopping centre assets have always been aggressively sought after due to the irreplaceable nature of the Commercial 1 zoned landholdings. In this case, there was only 10 years remaining to the major tenant, so investors had a line of sight to unlocking the underlying land value.”

Kevin Tong said “The Coles Hampton campaign captured strong enquiry and bidding from Asian investors who were attracted to location being in a bayside affluent area. Whilst not being the eventual purchaser this buyer pool represented a strong percentage of the final bids highlighting the demand from Asian investors for blue chip investments on land rich sites.”

To request a sales analysis please contact the selling agents Stonebridge Property Group’s Justin Dowers and Kevin Tong via the below contact details. 

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