Strategically positioned within the Brisbane to Gold Coast growth corridor, Woolworths Coomera East Shopping Centre emerges as an opportunity for savvy investors, with strong interest expected from domestic and offshore private capital.
Boasting a 1.75ha site, the high-performing Woolworths anchored shopping centre includes eight specialties with the potential for further value to be unlocked with a DA approved pad site, ripe for development.
Woolworths Coomera East Shopping Centre is anchored by a strong 15-year lease to Woolworths, who occupy 83% of the fully leased centre, with options until 2076. Additional tenants include BWS and seven other specialty shops.
A value-add opportunity exists on a vacant parcel of land at the southern boundary of the site, with a DA in place for 51 residential apartments and 2,100m2 of retail/commercial suites.
Colliers Retail Middle Market experts James Wilson and Harry Dever, on behalf of a private client, are offering Woolworths Coomera East Shopping Centre, located at 328 Foxwell Road, Coomera East for sale via an exclusive expressions of interest (EOI) campaign.
James Wilson said renewed demand from institutional mandates will compete with established domestic and offshore private capital for the opportunity.
“Domestic and offshore private capital has been the dominant purchaser category for the neighbourhood shopping centre sector during the current cycle, however recent acquisitions by institutional capital for high quality assets in Q2 2024 has increased the purchaser pool for this highly prized asset class,” said Wilson.
Harry Dever adds, “With a projected population surge in the main trade area at a growth rate of 3.4% per annum coupled with escalating retail spending at 5.6% per annum respectively, Woolworths Coomera East not only promises immediate returns but also long-term growth opportunities for potential investors”
“As only the second Woolworths anchored shopping centre to be publicly offered for sale in Queensland in 2024, it is an opportunity for investors to deploy pent-up capital into a secure investment where income is underpinned by inflationary resilient tenants,” said Dever.
The 100% interest in Woolworths Coomera East Shopping Centre is being exclusively offered for sale via EOI closing 17 July 2024.
