Sub Regional sale in Burwood Vic
For the first time in 26 years, the private family owners of Burwood One have traded the sub regional shopping centre for approx $180M, reflecting a yield of circa 5.2%. The 58,780sqm site at 172-210 Burwood Highway, Burwood East includes Australia’s strongest trading Coles and Kmart combination and the oldest Kmart store in the country. The Centre also contains an Aldi, six mini-majors and 51 specialty shops.
The shopping centre has an estimated net income of more than $9.5 million a year and a zero vacancy rate.
The Hansky’s Family bought the shopping centre in 1993 and extended it four years later. It was extended again and renamed Burwood One in $50 million refurbishment in 2010.