ACT Shopping Centre Sells To Sydney Investor

Chisholm Village Shopping Centre has sold for $22 million to a Sydney-based private investor.

The prominent shopping complex, located on Halley Street in Chisholm, in anchored by a Coles Supermarket and comprises 15 specialty tenancies. It features a strong convenience based offering including a news agency, pharmacy, hairdressing salon, butcher, gym and tavern.

The sale was negotiated by JLL's Head of Sales and Investments - ACT Michael Heather and Regional Director, Sales and Investments - ACT, Greg Lyons.

Mr Heather said, "We received several off-market offers in acquiring the Chisholm Village Shopping Centre predominately from private investors but also syndicators and institutional investors.

"This level of demand reflects the number of investors in the market seeking investment in the ACT retail sector," he said.

"The strong sales result we achieved continues to demonstrate that neighbourhood shopping centres underpinned by a 'blue chip' supermarket tenant like Coles and Woolworths continue to be highly coveted investments for buyers.

"Demand for neighbourhood shopping centres in the ACT is unprecedented as they provide strong cash flow and are more resilient to economic fluctuations as they rely less on discretionary spending."The centre is located approximately 15km south east from the Canberra CBD and in close proximity to major arterial roads including Isabella Drive and Monaro Highway. It is situated on a large 9,902 sqm site, with a Gross Lettable Area (GLA) of approximately 5,034 sqm.