Investors thirsty for neighbourhood retail assets as SA property hits the market

Dual supermarket anchored McLaren Vale Central located in one of Australia’s oldest and most acclaimed wine regions has been listed for sale.

JLL’s Sam Hatcher, Nick Willis and Ben Parkinson have been exclusively appointed to sell McLaren Vale Central at 130 Main Road, McLaren Vale via an Expressions-Of-Interest campaign.

Anchored by both Coles and Romeo’s Foodland, the centre is further supported by a diverse mix of 19 high-quality specialty retailers. McLaren Vale Central boasts an attractive weighted average lease expiry (WALE) of over five years.

Mr Hatcher said, “South Australia is one of the country’s most tightly held markets for neighbourhood shopping centres, with only two centres trading annually on average.

“McLaren Vale Central presents a rare opportunity to not only break into the South Australian market but to acquire a dual supermarket anchored neighbourhood shopping centre, in one of Australia’s most prominent wine regions, producing more than 35,000 tonnes of grapes in 2022. An opportunity that will be highly sought-after,” said Mr Hatcher.

Mr Willis said, “Having serviced the local residents and tourism industry since the 1960’s, McLaren Vale Central has established itself as the dominant convenience and service-based offering in the catchment and provides the only full-line supermarket offering within the expansive trade area.”

McLaren Vale is a world-renowned wine region within Australia’s largest wine producing state, South Australia and has fast become a popular tourist destination within the Fleurieu Peninsula. With an extensive list of wineries, coupled with the peninsula’s natural beauty the region attracts some 3.5 million visitors annually.

Mr Parkinson said, “Located just 33km south of the Adelaide CBD, McLaren Vale is a popular tourist destination and the epicentre of South Australia’s wine industry. With tourism expenditure estimated to be north of $650 million within the region, McLaren Vale Central is well positioned to capitalise on the resurging tourism market being the only full-line supermarket offering in town.

“In addition, the $0 stamp duty concession on commercial purchases in SA is a valuable addition for purchasers as comparative costs are much lower than other states,” said Mr Parkinson.

Expressions-Of-Interest for the McLaren Vale Central at 130 Main Road, McLaren Vale, SA will close at 2.00pm (AEST) on Wednesday 23^rd November 2022.