First Solely ALDI-Anchored NSW Neighbourhood Centre to Transact in Three Years

​​Highly competitive campaign attracts nine offers and 198 enquiries, signalling strong investor appetite for metropolitan retail assets. ​ 

In a sign of continued strength in the metropolitan retail investment market, Galston Village Shopping Centre, an award-winning, ALDI-anchored Neighbourhood Centre north of Sydney’s CBD, has been sold to a private investor for $16.125 million.  

The transaction was brokered exclusively by the Colliers Retail Middle Markets team of James Wilson and Ben Wilkinson, after a highly competitive expressions of interest campaign, achieving a fully leased yield of 5.80 per cent. 

Constructed in 2009, the three-level Centre spans 2,541sqm of gross lettable area (GLA) and includes ALDI and Liquorland as anchor tenants, supported by essential service retailers on the ground floor, combined with office tenants across the upper and lower ground levels. The Centre also boasts a new 10-year lease extension to ALDI, with over 80 per cent of GLA and income secured by essential services. 

James Wilson, Head of Retail Middle Markets at Colliers, said, “This transaction highlights the robust demand from private capital for Neighbourhood Shopping Centres within strategic metropolitan locations.” 

“The competitive campaign attracted 198 enquiries and resulted in nine offers being received, reinforcing the strong interest in well-located retail assets. The sale underscores the expertise of the team in leveraging strong buyer interest for premium retail assets.” 

Ben Wilkinson, Colliers Manager of Retail Middle Markets, added, “Galston Village Shopping Centre represents only the second on-market Freehold Sydney Metro Neighbourhood transaction of 2024, highlighting the pent up demand for these Non-discretionary Centres, with a number of underbidders having submitted offers on other Colliers campaigns in the past 12-months.” 

“Investors are actively seeking supermarket-anchored Centres that are underpinned by essential services and inflation-resilient industries. With consumer confidence rebounding and retail spending on the rise, we’re seeing strong capital flows into defensive retail assets that offer both stability and growth.” 

Neighbourhood Shopping Centres have continued to outperform amid macroeconomic headwinds, with their non-discretionary tenant mix proving resilient in the face of rising interest rates and shifting consumer behaviour.  

Galston Village’s strong fundamentals and award-winning design saw it win the 2010 Master Builders Association Excellence in Construction Award. It remains the only supermarket in its primary trade area with a floorplate exceeding 1,000sqm. 

Located in Sydney’s Hornsby Shire, the Centre is well-positioned to benefit from continued population growth and infrastructure investment in the region.