HomeBase Wagga, a 20,000 square metre large format centre anchored by Harvey Norman, Spotlight, Fantastic Furniture and Officeworks has sold for $46m.
The vendor, Professional & Industrial Alliance Pty Ltd put the property, at 7-13 Hammond Avenue, East Wagga Wagga on the market in October 2020, appointing JLL to run an on market campaign.
Purchaser Metro Diversified Property paid $46m for the Centre, reflecting a fully leased passing yield of 7.4%. Metro Diversified Property are associated with Metro Storage which has facilities across Sydney, with major centres at Leichhardt, Canterbury, Marrickville and Bondi Junction.
Metro branched out into the bulky goods sector in 2019 when it acquired the Blaxland Home Centre in Campbelltown from Intergen Property Partners for $47.5m.
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