Leeton Plaza has been listed for sale and presents a unique opportunity to invest in an ALDI-anchored Neighbourhood Shopping Centre in the thriving farming region located just over an hour's drive from Wagga Wagga.

JLL’s Sebastian Fahey & David Mahood and Stonebridge’s Alex James-Elliott have been appointed to manage the sale on behalf of a locally based private investor. 

The dominant neighbourhood centre offering spans more than 4883 square metres of gross lettable area (GLA) and, in addition to ALDI, features other national chain tenants including The Reject Shop, Pets Domain and Betta Home Living. 

Sebastian Fahey, Executive, JLL Retail Investments NSW noted: “There has been a shift in the demand for non-metropolitan neighbourhood centres in NSW, with $165 million in regional shopping centre sales over the last 12 months, up 32% on the previous term. These centres are becoming more and more attractive due to the thriving economic conditions in regional NSW, backed by investors seeking a yield arbitrage to metropolitan locations and underlying replacement value.”

Leeton Plaza is positioned at the heart of the Riverina region, which is the largest regional contributor to agricultural production in NSW, totalling $1.4 billion. The strong economic fundamentals in the region have seen an increase in national chain tenant representation, totalling 80% of the gross income within the centre.

The ALDI supermarket provides a rare income structure with CPI or 4% increases, with the overall centre offering 81% of the gross specialty underpinned by attractive 3% or greater fixed annual reviews, providing secure rental growth. The centre benefits from favourable development controls with an 11.5 metre height limit and being situated on Leeton’s largest commercially zoned landholding.

Alex James-Elliott, Director, Stonebridge Retail Investments NSW, said: “Leeton Plaza is the dominant retail centre and the only enclosed neighbourhood shopping centre in Leeton, presenting a compelling attraction for customers and retailers alike. Leeton Plaza provides the only ALDI supermarket within the Main Trade Area, with the potential to complement the current retail offering through the addition of a bottle shop and newsagency.”

Expressions Of Interest for the sale of Leeton Plaza at 2-10 Acacia Avenue, Leeton, NSW 2705, close at 5pm (AEST) on September 5, 2024

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