Thursday, June 13, 2024

Melbourne’s Brandon Park shopping centre up for sale

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Newmark Capital has put up the Brandon Park shopping centre in Melbourne for sale.

The property features 5.81ha of land with a retail centre and has a gross lettable area of 23,038sqm.

Aside from Coles and Aldi, the shopping centre also serves as home to five mini-majors and 86
specialty tenancies and kiosks.

Newmark Capital has tapped CBRE’s Simon Rooney, James Douglas and David Minty and JLL’s Stuart Taylor, Nick Willis and Jesse Radisich to manage the sale of the asset.

“We expect Brandon Park to attract strong domestic and offshore investor interest, as metropolitan Melbourne investment opportunities offering the scale of Brandon Park, value-enhancing opportunities and an approved development application in place are rarely offered to the market,” CBRE’s Rooney said.

“The asset provides an extraordinary opportunity for both traditional retail investors and mixed-use capital to secure a major island site in Melbourne’s prized south-eastern suburbs, which is underpinned by strong retail fundamentals whilst providing exceptional value-add and development optionality,” JLL’s Taylor said.

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