Two WA Woolworths for sale

Supermarkets giant Woolworths has placed two supermarket sites in Western Australia on the market, part of a national portfolio of neighbourhood shopping centres collectively valued at $180 million.

Commercial agency CBRE has been appointed to sell the portfolio, with the WA assets comprising a supermarket development site at Mandurah and a recently completed store in Dalyellup.

The other properties are completed and partially completed centres in the Northern Territory, Queensland and Victoria.

All of the assets are subject to 20-year lease back agreements with Woolworths, with the leasing profiles on the support tenancies also strong.

Expressions of interest close on November 26.

CBRE director Andrew Woodley-Page said he expected significant interest in the portfolio, particularly from private investors.

“The current market for retail investments is the strongest we have seen for over a decade,” he said.