Woolworths to sell South Coast Supermarket

Stonebridge Property Group have been appointed to sell Woolworths Bomaderry Shopping Centre, a modern Woolworths Supermarket (incl BWS) anchored neighbourhood centre on the sought-after NSW South Coast.

The Centre is a high performer, achieving outstanding first year trade and benefitting from strong population and tourism growth post-COVID. The Centre draws visitation from over an hour south, due to its gateway position and convenience focus.

Located on Princes Highway, the main route along the South Coast, the Centre sits at a key arterial junction just 3.5 km north of Nowra CBD, connecting the South Coast with Wollongong and Sydney (approximately 2-hour drive).

Woolworths Bomaderry Shopping Centre is a Woolworths anchored asset, supported by Plus Fitness, a pharmacy and medical centre and 4 additional specialty shops, over a lettable area of 5,451 sqm.

Constructed in 2020 by Woolworths, the Centre is a premium freestanding building occupying a highly accessible 1.914-hectare site with abundant at-grade parking for 286 vehicles. The Centre features best-in-class environmental initiatives and a recently completed dedicated direct-to-boot drive through facility.

Secured by a brand new 10-year lease to Woolworths, plus ten 5-year options, the Centre benefits from a long WALE of approximately 9 years (by income). Income growth potential is very strong, with annual increases secured for specialties and an opportunity to achieve supermarket percentage rent within forecast period.

Stonebridge National Partner Philip Gartland said, “Woolworths Bomaderry is a truly unique asset that has demonstrated exceptional first year trading performance. According to Location IQ, up to approximately 21% of visitation to the centre comes from outside the Main Trade Area, highlighting the absolute convenience and strength of trading position next to a key arterial route.”

Stonebridge National Partner Justin Dowers said, “The NSW South Coast is benefitting from the post-COVID sea-change, with median house prices in Bomaderry increasing almost 33% over the past 12 months. When coupled with the boom in domestic tourism, this Centre is perfectly positioned for growth”

Woolworths Bomaderry Shopping Centre is for sale by Expressions of Interest closing Wednesday 8th June 2022 at 2pm AEST.

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