MA Financial Sells Off Corrimal Village in Biggest Transaction Since 2021

MA Financial has sold the Corrimal Village shopping centre in an off-market deal for $103 million to an undisclosed buyer. 

The deal represented a 5.13 per cent passing yield, which Colliers head of retail middle markets James Wilson said underscored the depth of investor demand for defensive assets. 

The shopping centre site, 6km from the Wollongong CBD, comprises 9760sq m of gross floor area on a 30,640sq m block of land anchored by a Woolworths and Dan Murphy’s and 33 specialty retailers. 

Wilson said the deal was the “largest non-metro neighbourhood centre sale nationally since 2021” and reinforced investor demand for daily-needs retail assets. 

“The off‑market process generated competitive interest from private capital, resulting in the sale to a high‑net‑worth NSW investor highlighting the continued pent‑up demand for defensive, convenience‑led assets with strong income durability,” Wilson said. 

▲ The Corrimal Village Shopping Centre comprises 9760sq m of gross floor area on a 30,640sq m block of land.

The centre has a long-term lease with Woolworths extending to 2032 and opportunities for rent reversion. 

Wilson said neighbourhood retail was one of the strongest performing retail asset classes last year, with transactions totalling $2.89 billion. 

This was a 69 per cent increase on 2024, and 35 per cent above the 10-year average. 

Wilson said while the volume of transactions was in line with averages, the transactions in 2025 were for larger assets. 

Last year MA Financial splashed $678 million to acquire Hyperdome Town Centre at Loganholme from QIC Real Estate. It also snapped up the Top Ryde City shopping centre in JV with Keppel REIT from Blackstone in a blockbuster deal worth $525 million.