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News release


Sunbury Central Shopping Centre sells for $40 million

Sunbury Central Shopping Centre

The Sunbury Central Shopping Centre has sold for $40 million in what is believed to be the largest-ever single commercial property transaction in the Sunbury and Macedon Ranges region. JLL’s Director of Retail Investments, Stephen Bolton, negotiated the deal ‘off-market’ to a local private investor.

Sunbury Central Shopping Centre is located adjacent to the Sunbury railway station, which was recently upgraded as part of the $270 million electrification of the Sunbury railway line. Sunbury Central is prominently positioned on a landmark site of some 3.1 ha, with a frontage to Horne Street in excess of 300 meters. Sunbury Central comprises a Woolworths supermarket, Big W DDS, Woolworths Petrol Plus service station, a 5 screen Readings Cinema complex and two cafes. The centre is complimented by at-grade and deck car parking for approximately 700 vehicles.

Mr. Bolton said, "Sunbury Central is a very strongly performing centre and is expected to continue to grow on the back of the projected growth of the Sunbury region. The Centre provides the purchaser with excellent 'blue chip' lease covenants with over 65% of the leases to Woolworths, and ease of management with collectively only 4 groups to deal with".

The sale of the Sunbury Central Shopping Centre follows on from the recent ‘off-market’ sales of Bunnings Carrum Downs and the Sunshine Homemaker Centre b y JLL's Retail Investments team in Victoria, Stephen Bolton and Stuart Taylor.

Mr. Bolton commented "These three recent property sales have provided in excess of $125 million to the vendors in off market transactions, and has highlighted that owners can be confident that JLL will place their properties with qualified purchasers, with a minimum of fuss and still receive strong market results".