An award-winning ALDI-anchored neighbourhood shopping centre for sale. Galston Village Shopping Centre for sale by the Colliers team of James Wilson and Ben Wilkinson.
Galston Village Shopping Centre for sale in the Hornsby Shire is a strategically located neighbourhood centre, with a new 10-year lease extension to ALDI in place and over 80 per cent of GLA and income secured by essential service retail.
Built in 2009, the 100% fully leased centre comprises three buildings totalling 2,541sqm of GLA, with the ALDI and Liquorland supported by 9 specialty tenants including a pharmacy, dentist and cafe, all serviced by a convenient under-croft carpark.
The Colliers team of James Wilson and Ben Wilkinson have the exclusive listing.
“Galston Village will be highly pursued by domestic and offshore private investors given it is only the second freehold Sydney metropolitan Neighbourhood Shopping Centre to be publicly marketed in 2024. The 100% fully leased centre features a new Aldi Supermarket 10-year lease extension including a highly prized CPI annual rental review structure which will drive security and income growth for investors,” Mr Wilson said.
“Galston Village Shopping Centre represents a secure long-term investment with 100% of the income profile including guaranteed rental review structures, being CPI or fixed reviews. Further, ALDI and Liquorland secure 74% of the Centre’s GLA, with the Centre featuring the only supermarket with a floor space over 1,000sqm in the primary sector,” Mr Wilkinson said.
The centre won the 2010 Master Builders Association (MBA) Excellence in Construction Award, forming part of a captive trade area with limited essential service retail competition and high barriers to
Neighbourhood shopping centres characterised by their defensive non-discretionary focus continue to be highly sought-after in the current investment landscape. The Centre’s MTA are predominantly family households with income levels +35.1% above the Australian benchmark, underpinning strong non-discretionary spending.
Interest is expected by largely domestic and offshore private investors, given Galston Village is one of the few Sydney metropolitan Neighbourhood Shopping Centres to be marketed below $20 million in value.
Galston Village Shopping Centre is for sale via an expressions of interest campaign, closing on Wednesday, 18th of September 2024.
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