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NSW: Two Sydney shopping centres have been sold off in a pandemic double deal worth more than $91 million.

21D ago 0 Replies 31 Views
The metropolitan centres Pemulwuy Marketplace and West Ryde Marketplace were bundled together in the midst of COVID-19 earlier this year by the Charter Hall Retail Partnership No.1 Trust, in a deal worth $91.5 million.
The final price was in line with pre-pandemic valuations, highlighting the appetite for high-value retail assets among investors has not diminished, says JLL’s Sam Hatcher.
“Both centre’s represented an opportunity to acquire key local land holdings within metropolitan Sydney, underpinned by a secure and resilient income stream which performed exceptionally well throughout the recent COVID-19 lockdown period”, Hatcher says.

Both have flexible mixed-use zoning and offer potential for long-term development.
Pemulwuy Marketplace is a 5215sqm space anchored by a Woolworths Supermarket and supported by 15 specialty stores and two kiosks.


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