Stonebridge Property Group is pleased to exclusively bring to market the freestanding Woolworths Supermarket in St Albans. The strong-performing freestanding supermarket is strategically positioned on the largest Commercial 1 Zone site in the St Albans commercial core, 15 km* north west of the Melbourne CBD.
The supermarket performs extremely well, consistently trading well in excess of the percentage rent threshold providing investors strong income growth potential. The Property services a significant catchment of 37,703 people within a 5 minute drive time and benefits from being the only Woolworths, Coles or Aldi supermarket in the entire suburb of St Albans.
Being metres from St Albans Station and residing on a significant 6,438 sqm Commercial 1 Zoned landholding, Woolworths St Albans has exceptional future development potential. A preliminary report from ProUrban has suggested the site could achieve 6-8 storeys (STCA), providing scope for a substantial future mixed use development.
Mr. Tong commented “Commercial 1 Zoned landholdings of this scale in inner Melbourne locations are extremely rare and sought after, providing investors and developers with the utmost flexibility for future outcomes. Woolworths St Albans benefits from being a strong-trading supermarket with income growth on a significant and highly valuable land parcel.”
Mr. Dowers commented “Freestanding supermarkets in metropolitan Melbourne rarely come to market, let alone ones with the income growth profile that Woolworths St Albans presents. The blue-chip fundamentals of the investment will make it an extremely attractive investment proposition to a variety of groups.”
The Woolworths St Albans opportunity represents the first metropolitan freestanding supermarket offering of 2023, in an extremely tightly held sector. This offering follows the recent transactions of the Coles Supermarket in Middle Camberwell which sold for $37,000,000 on a yield of 4.28%.
Stonebridge Property Group’s Kevin Tong and Justin Dowers have been exclusively appointed to sell the Property.
Highlighted below are a list of Freestanding Metropolitan Melbourne Supermarkets which have transacted in the past few years.
Property Name Sale Date Sale Price Yield (Passing)
Coles Balaclava Feb-23 $80,000,000 –
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Coles Middle Camberwell Dec-22 $37,000,000 4.28%
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Coles Lalor Apr-22 $13,768,888 2.98%
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Woolworths Eltham Mar-22 $35,000,000 3.33%
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Woolworths Balwyn Nov-21 $45,700,000 2.99%
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Coles Local Glenferrie Nov-21 $24,500,000 1.90%
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Woolworths Blackburn South Oct-21 $29,300,000 2.47%
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