05/09/2018 - 15:22

The Village Margaret River on the market

05/09/2018 - 15:22

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Sirona Capital has engaged Colliers International and CBRE to offer its 5,706 square metre shopping centre in Margaret River to the market.

The Village Margaret River shopping centre.

Sirona Capital has engaged Colliers International and CBRE to offer its 5,706 square metre shopping centre in Margaret River to the market.

The centre is anchored by a 3,800sqm Woolworths with other tenants including Red Dot, Just Jeans, Plus Fitness and BWS.

The total site area is 7,233sqm and includes undercroft parking for 204 cars.

The neighbourhood centre, on the corner of Town View Terrace and Wilmott Avenue, has a fully leased net income of $1.55 million and its anchor lease to ASX-listed Woolworths runs until 2034 with four renewal options. It has a fully leased net income of $1.55 million.

Sirona Capital’s website states The Village at Margs has a project value of $22 million.

Colliers International retail Iinvestment services director, Ben Tana, said Woolworths had achieved compound growth in turnover of more than 10 per cent per annum since the centre opened in 2013.

Expressions of interest for The Village at Margaret River close on October 11.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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