Sydney investor snaps up Woolworths Metro Clifton Hill

Woolworths Metro Clifton Hill has sold post-auction on a low yield of sub 3.30 per cent to a Sydney-based private investor.

The sale, which was negotiated by Colliers’ Tim McIntosh, Matt Stagg, and Yvonne Zhou, represents a recent string of freestanding supermarket sales across metropolitan Melbourne and Victoria, including Woolworths Kerang, Coles Hampton and Woolworths Monbulk, following a period of very limited supply of core retail investments coming to market.

McIntosh, Director of Retail Middle Markets Victoria, said the competitive bidding at auction from local, offshore and interstate private investors reflects the deep appreciation buyers continue to show for freestanding retail investments in prime metropolitan locations.

“Woolworths Metro Clifton Hill was sold post auction to a Sydney-based private investor, further highlighting the growing theme of buyer mandates increasingly being more fluid across the Eastern seaboard. Colliers continue to leverage our national Retail Middle Markets and Asia Markets platform to channel maximum buyer engagement.”

The site is 100 per cent leased to Woolworths with three per cent fixed increases and options until 2056.

Stagg, National Director of Investment Services at Colliers, said inner Melbourne, retail high street investments, are continuing to achieve exceptional results, with the sale of Woolworths Metro Clifton Hill a week after the sale of ANZ Hampton East, achieving a sharp 4.50 per cent yield.

“Strong investment opportunities, such as Woolworths Metro Clifton Hill, are rare, particularly in strategic metropolitan locations leased to a secure tenant. We continue to experience lots of interest from investors drawn to ultra-defensive and recession-proof investments with attractive income growth.”

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