Chinese investor snaps up Melbourne shopping centre for $48 million

Chinese investor snaps up Melbourne shopping centre for $48 million
Chinese investor snaps up Melbourne shopping centre for $48 million

Victorian shopping centres are emerging as the asset of choice for Chinese investors, with the sale of Arena Shopping Centre in Melbourne for $48 million being the latest transaction. 

Over the past 15 months, Chinese investors have spent more than $380 million buying shopping centres across Victoria – highlighting the ongoing strength in investment appetite for well-located assets backed by strong tenancy profiles, according to commercial real estate firm CBRE.

Arena Shopping Centre is located in the south-east suburb of Officer.  

It is anchored by a 4,100 sqm Woolworths Supermarket and BWS on a 20-year lease.

It is positioned on a 2.97 ha site, and has 25 specialty retailers as well as a freestanding McDonald’s and Caltex Service Station.

The centre generates an annual income of $2.65 million per annum and the initial yield works out at 5.38%.

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Chinese investor snaps up Melbourne shopping centre for  million

The sale was brokered by CBRE with the limited supply of neighbourhood shopping centres being offered to the market underpinning strong sale results. 

 

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Melbourne Shopping Centre

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