Friday, June 14, 2024

Snowy Mountains shopping centre for sale by JLL 

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Cooma’s Centennial Plaza has been listed for sale. The high-performing Coles anchored neighbourhood centre is nestled in the Snowy Mountains capital city, Cooma, a highly desirable tourist destination situated just over an hour’s drive from Canberra.

JLL’s Nick Willis, David Mahood, and Sebastian Fahey have been exclusively appointed to manage the sales of Centennial Plaza shopping centre at 116-128 Sharp Street, Cooma NSW. The centre is being sold via an expressions of interest campaign closing Wednesday, 26th June 2024.

The dominant convenience retail offering spans over 4,395 square metres of gross lettable area (GLA) and comprises of a Reject Shop, 11 specialties and 3 office tenancies, providing a seamless shopping experience for both residents and tourists.

David Mahood, Executive JLL Retail Investments NSW, noted “Centennial Plaza is positioned at the heart of Cooma’s retail precinct. Its strategic location within the capital city of the Snowy Mountains allows it to service approximately 2.7 million visitors annually and substantially benefits from the $418 million of retail expenditure generated by the region’s tourism industry.”  

The established neighbourhood shopping centre is anchored by the only Coles supermarket in the Snowy-Monaro region. Providing a resilient income stream with 94% of gross income underpinned by national and chain retailers, the centre presents a fully leased net income of $1.04 million p.a.

Sebastian Fahey, Executive JLL Retail Investments NSW, said “Opportunities to acquire neighbourhood centres anchored by a major supermarket operator at this price point are a rarity. Being only the third sub $20-million major supermarket anchored neighbourhood centre to come to market in regional NSW since 2019, Centennial Plaza presents a compelling proposition for private investors and first-time entrants in the shopping centre market.”

The Snowy-Monaro region is primed for future growth with $196 million funding from the NSW State Government. This funding is allocated to the implementation of the Snowy Mountains Special Activation Precinct Plan, a 40-year master plan devised to support the region and foster substantial investment opportunities.

Expressions-Of-Interest for the sale of ‘Centennial Plaza’ at 116-128 Sharp Street, Cooma, NSW at 3.00pm (AEST) on Wednesday, Wednesday 26th June 2024.

More Retail news: 

East Pilbara’s Dominant Woolworths-Anchored Shopping Centre for sale Colliers  | Commo.

Coles Anchored Whiteman Edge Village Brabham WA sold $39m by JLL  | Commo.

Coles anchored centre and development site for sale in Perth’s rapidly expanding north-east growth corridor – JLL | Commo.

Freestanding Coles Launceston Supermarket for sale for the first time in over 7 years – JLL & Stonebridge | Commo.

 

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