Freestanding Coles supermarket in Melbourne’s Bayside offered for sale for the first time in 35 Years

Stonebridge Property Group is pleased to exclusively bring to market the freestanding Coles supermarket in Melbourne’s prestigious bayside suburb of Hampton. The generational offering features an ultra-rare and recently renewed 5-year NET lease to Coles and strategically resides on Hampton’s largest Commercial 1 Zoned site being 5,274 sqm. The convenient supermarket comes with 101 car spaces on-title.

The freestanding supermarket is nestled amongst some of Melbourne’s most expensive real estate and services an affluent catchment. Hampton has a median house price of $2.15 million and median family incomes 70% above the Victorian average, supporting strong retail spending and demand for high quality housing.

Coles Hampton offers exceptional medium term development prospects with it residing on a substantial commercial 1 zoned site with 146 m frontage and with only one 5-year option remaining to Coles. A detailed report from Urbis has indicated there is substantial scope to undertake a future mixed-use development comprising multi-level apartments with a supermarket (STCA).

Mr. Dowers commented “Coles Hampton is a truly generational offering and represents an ultra-exclusive opportunity to acquire a secure income stream with medium term development prospects in Melbourne’s bayside. Supermarkets of this quality and in this location are extremely tightly held.

“The Commercial 1 Zoned site it is situated on, is the largest single title in the suburb in Hampton making it one of the premiere and only opportunities for future development of scale in the area.”

Mr. Tong commented “We expect Coles Hampton to draw interest from a variety of groups, including traditional retail investors, developers and Asian capital. With Australia recently being ranked first for Chinese home buyers and net migration at record levels of 700,000 people over the next 2 years, there is substantial capital flowing into the Country that needs to be placed in high quality real estate like Coles Hampton.”

“Out of the few supermarkets which have transacted in the bayside area, each have been hotly contested by Asian investors more recently being the Coles supermarket in Mentone which the top 3 bidders were of Asian Heritage.”

Stonebridge Property Group’s Justin Dowers and Kevin Tong have been exclusively appointed to sell the Property.

This is the first time the Property has been offered for sale in over 35 years and joins an exclusive list of Bayside supermarket offerings which include the likes of Woolworths Middle Brighton, Coles Mentone and Aldi Mordialloc. Woolworths Middle Brighton sold for $32,000,000 on a tight 3.78% yield while Coles Mentone sold for $15,300,000 representing a sharp 3.40% yield. Aldi Mordialloc, a strata supermarket, was the most recent sale at $10,700,000 representing a 4.69% yield.

Melbourne Bayside Supermarket Sales