The Modbury Triangle Shopping Centre Portfolio has come to market, providing the chance to invest in around four hectares of commercial and retail assets located in the flourishing north eastern growth corridor of Adelaide, around 15 kilometres northeast of the CBD.
The portfolio which boasts over 92 percent occupancy and strong existing cash flow, fall within Urban Activity Centre Zoning as part of the City of Tea Tree Gully, allowing for future development of up to five levels.
This is the first time the well positioned portfolio, which is underpinned by an established neighbourhood shopping centre with value add potential, has been listed for sale in 25 years.
The Modbury Triangle Shopping Centre Portfolio is exclusively listed with Jordan Schmidt, Paul Van Reesema and Alistair Mackie of Colliers.
“Colliers believes the sales campaign will generate significant interest from diverse buyer groups across the country, including institutional funds, commercial developers and retail syndicates with an appetite for value-add driven investment.” Mr Schmidt said.
Future success of the portfolio will be boosted by their high exposure position on the door step of the Westfield Tea Tree Plaza Super Regional Shopping Centre, in the heart of a dominant retail and service based precinct.
“The Portfolio benefits from significant passing income & favourable zoning, supporting a range of development outcomes.” Mr Reseema said.
The portfolio is available for purchase in one line or individually.
“The sheer scale of the land holding and contiguous nature of the portfolio provides nothing short of a community-shaping opportunity, driving growth of a region which is evolving due to extensive inrastructure and amenity upgrades.” Mr Schmidt said.
The Modbury Triangle Shopping Centre Portfolio is for sale through an expressions of interest campaign (EOI) closing 3.00pm (ACST) on Thursday 11 August 2022.
Related Articles
