Qualitas' Bondi Junction retail development up for sale

The retail component of the Aqua development in Sydney's Bondi Junction is for sale by public expressions of interest closing June 10.

Real estate developer Qualitas has appointed Cushman & Wakefield to sell the 241 – 245 Oxford Street property.

The residential component of the development included 129 units that were released in May 2014 and were sold within four hours.

The retail investment opportunity will be sold 100% leased with a Weighted Average Lease Expiry (WALE) by income of over nine years. The development is due for completion by September 2016.

“An investment opportunity in the tightly held Bondi Junction retail market is unique, particularly in a location adjacent to one of the strongest performing Westfield Shopping Centres in Australia. As a result, we expect strong interest from local high net worth private investors as well as offshore purchasers," said Cushman & Wakefield’s senior director of Retail Investments, Sashi Makkapati.

Makkapati and Cushman & Wakefield’s Billy Dent are handling the marketing of the property.

Qualitas has agreed leasing terms with Neil Perry’s Burger Project and Damat & Tween, a European fashion label that will be open their flagship Sydney store.