Gross Waddell ICR exclusively presents for sale Coles Bentleigh, a premium standalone supermarket securely leased to a longstanding Coles supermarket. Coles Bentleigh is owned by a private family and it is the first time in over 40 years that the property has been offered to the market. This bustling inner metropolitan supermarket will be offered for sale via International Expressions of Interest closing on Wednesday the 10th of April 2024.  

Michael Gross, Danny Clark, Alex Ham, Glenn Ye have been appointed as sole agents to sell the property on behalf of the family.

The Coles supermarket occupies an exceptional and highly exposed 3,388 sqm* landholding favourably zoned Commercial 1 (C1Z) and resides on one of Bentleigh’s largest landholdings within the activity centre. Centre Road retail precinct is home to an enormous collection of national retailers, bustling cafes and restaurants and fashion boutiques and given its proximity to Melbourne’s CBD and adjoining affluent suburbs, Bentleigh remains a high demand destination.

Aldi, Best & Less and many more. The Woolworths anchored shopping centre benefits from an additional 6 well-established specialties and offers a combined NLA of 5,366 sqm*.

Michael Gross commented, “Supermarkets are one of the most in demand assets for investors and seldomly do freestanding supermarkets become available in inner metropolitan suburbs of Melbourne, therefore, we investors to be draw to Coles Bentleigh for its long-term lease fundamentals, income profile, tenant profile and underlying land value”.

Alex Ham said, “Coles Bentleigh offers a strong income profile with a base rent of $984,619 net* per annum with the added benefit of offering the highly valued triple net lease structure. Housed within 2,321 sqm* of GLA, Coles Bentleigh has an exceptionally strong trading performance and a growing catchment, highlighting the potential growth as Melbourne’s population continues to soar”.

Danny Clark adds, “Since early 2022, there have only been 4 metropolitan Melbourne freestanding supermarket sales with a blended average yield of 3.36%* across the 4 sales. This highlights the ongoing demand and fast-growing pool of investors looking for defensive, income-producing investments protected against growing land-tax bills”.

“Coles Bentleigh is embedded within the community for over 40 years, it is complemented by an abundance on-street parking within the title and a plethora of council owned car parking directly facing the supermarket. In addition to a wealth of amenities including the train station which is only 85 metres* away, this inner metropolitan supermarket investment will appeal to a wide range of savvy private investors and offshore investors” adds Glenn Ye.

The property is for sale via an International Expressions of Interest closing 3:00 pm on Wednesday 10th April 2024 at 3pm.

Coles Bentleigh for sale exclusively by Michael Gross, Danny Clark, Alex Ham and Glenn Ye.