Greystanes Shopping Centre sold for $76 million amid rising demand for neighbourhood assets

Shopping centre owner Region Group has capitalised on rising demand for neighbourhood assets with the $76 million sale of Sydney’s Greystanes Shopping Centre to private retail investment group Revelop.

The sale marks Region Group as a first mover in 2025, as neighbourhood shopping centre pricing rebounds.

Region Group acquired Greystanes Shopping Centre in 2014 for $38.2 million.

The sale to the increasingly active Revelop group was struck on a yield of 5.50% and a sale rate of $12,639/sqm, reflecting the tightest capitalisation rate paid for a neighbourhood shopping centres above $50 million in the past three years.

CBRE’s National Director of Retail Investments James Douglas exclusively negotiated the sale on behalf of Region Group.

Mr Douglas said, “We are increasingly seeing vendor and purchaser price alignment on transactions. In this instance, the strong pricing and total return outcome for Region Group was matched by Revelop’s desire to acquire an asset in metropolitan Sydney and in an area where they held other retail investments.”

Mr Douglas added, “Through national sale campaigns we are coordinating, we are seeing increased activity and investor engagement in sale processes. We expect transaction volumes and pricing to reflect this market shift through the balance of the year.”

Charbel Hazzouri, Director of Revelop said, “Revelop is excited to be adding Greystanes Shopping Centre to our growing Sydney metropolitan portfolio. The acquisition not only strengthens our presence in Western Sydney but also creates powerful synergies with our existing centres in surrounding areas including Pemulwuy, Smithfield, Blacktown, and Stanhope. We see strong future potential in this asset and are proud to continue investing in high-quality, community-focused retail centres.”

Built in 2014, the Woolworths-anchored Greystanes Shopping Centre is located 29km west of Sydney. It features 30 shops, parking for 271 vehicles and serves a trade area of approximately 90,000 people.