Full-Line Woolworths in affluent Doncaster East is offered for sale with a NET lease, recently renewed 10-year term to 2036 and no further options.
Woolworths Doncaster East emerges as a rare opportunity to secure a ‘full-line’ supermarket 100% leased to Woolworths Group just 18kms from Melbourne CBD with a valuable commercial 1 zoned landholding.
Colliers Tim McIntosh, Will Heffernan and Yvonne Zhou are pleased to exclusively bring to market on behalf of Receivers and Managers a full-line Woolworths supermarket located in the affluent suburb of Doncaster East. Offered for sale with an extremely rare NET lease following a recent 10-year lease renewal until 2036 and no further options.
Occupying a prized 3,213sqm Commercial 1 zoned landholding, representing one of the largest C1Z sites in Doncaster East, the securely leased Woolworths supermarket returns $597,000 per annum* and provides future mixed-use development potential (STCA). The affluent catchment has a median house price 68% above the metropolitan Melbourne average and is seeing increased medium- and high-density residential developments to support the growing population.
Tim McIntosh, National Director of Retail Middle Markets at Colliers, said, “Woolworths Doncaster East stands out as a rare generational opportunity to secure an inner Melbourne full-line supermarket with significant development or redevelopment upside.”
“Supermarkets with the ultra-rare NET-lease structure, 10-year lease term and significant commercial 1 zoned landholdings are increasingly hard to come by, it is hard to say when there will be another opportunity like this with no further options within a catchment increasingly seeing higher density development.”
The property is located in Melbourne’s affluent suburb Doncaster East. Just 18 kilometres from the Melbourne CBD, the suburb has median house value 68%* above the metropolitan Melbourne average, while the prominent Woolworths supermarket is located on major arterial Doncaster Road with the established Devon Plaza retail precinct that comprises 239 on-site car spaces and convenience retail shops.
Yvonne Zhou, Associate Director, Asia Markets at Colliers, commented, “Asian Capital remains focused on quality retail investments with significant landholdings. With favourable commercial 1 zoning within an affluent location, passive single-tenant offering and just 6km* from Box Hill CBD, Woolworths Doncaster East ticks all the boxes.”
The supermarket has exposure to over 9,000 vehicles daily via Doncaster Road and proximity to the Eastern Freeway, with the transformative $26 billion North East Link infrastructure project at the doorstep of the property will further enhance connectivity and drive land values and further development activity.
Managed by Colliers Tim McIntosh,Will Heffernan and Yvonne Zhou, Woolworths Doncaster East is being offered for sale via an Expressions of Interest (EOI) campaign closing at 3:00pm (AEDT) on Thursday 4 December, with a price guide of above $12 million.
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