{"id":48351,"date":"2021-01-21T05:42:23","date_gmt":"2021-01-20T19:42:23","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/?p=48351"},"modified":"2021-01-21T05:43:59","modified_gmt":"2021-01-20T19:43:59","slug":"woolworths-torquay-central-sold-for-25m","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/news\/woolworths-torquay-central-sold-for-25m\/","title":{"rendered":"Woolworths Torquay Central sold for $25m"},"content":{"rendered":"

THE Woolworths Torquay Central supermarket has sold to a private investor for $25.1 million.<\/p>\n

Touted to investors as the town\u2019s \u201cmost substantial and strategic commercial landholding\u201d when listed in October last year sold yesterday for more than $5 million above Stonebridge Property Group<\/a>\u2019s initial\u00a0expected price of $20 million.<\/p>\n

Located on the corner of Bristol Road and Walker Street, the Commercial 1 zoned site of 7,331 sqm offers potential future development options, while the freestanding, 2,980 sqm building includes a BWS store and is let on a two-year term, expiring late in 2024 plus further options, with a passing net income of $916,029.<\/p>\n

There are 127 car spaces on title and the benefit of additional car spaces on an adjacent council lot.<\/p>\n

Stonebridge\u2019s Kevin Tong said the property represented the most substantial and strategic commercial landholding in Torquay, providing significant scope for future mixed-use redevelopment given the central location opposite Taylor Park and only 300 metres from Torquay\u2019s beaches.<\/p>\n

\u201cWe are not simply talking about a recession-proof income stream from a blue chip tenant, but a property which also offers exceptional development prospects down the track at the gateway to the Great Ocean Road \u2013 one of Australia\u2019s foremost tourist destinations.\u2019\u2019<\/p>\n

He said the increasingly affluent locality was experiencing high levels of tourism and population growth, being an ideal location for sea-changers with the potential for significant acceleration as the working from home trend increased.<\/p>\n

\u201cStandalone supermarkets are rare and highly sought-after by investors and have been over a long period of time and in many instances have produced very strong
\nresults,\u201d Stonebridge partner Justin Dowers said.<\/p>\n

\u201cThat has been due to some of the best investment credentials you will find in any commercial property asset including long leases, blue-chip tenants and high underlying land value.<\/p>\n

\u201cDaily needs tenants, like Woolworths, with an exceptional track record of performance, add another level of tenancy and rental income security which is particularly attractive in uncertain times.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

THE Woolworths Torquay Central supermarket has sold to a private investor for $25.1 million. Touted to investors as the town\u2019s \u201cmost substantial and strategic commercial landholding\u201d when listed in October last year sold yesterday for more than $5 million above Stonebridge Property Group\u2019s initial\u00a0expected price of $20 million. Located on the corner of Bristol Road […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":156,"featured_media":48352,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-48351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nWoolworths Torquay Central sold for $25m - Surf Coast Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/surfcoasttimes\/news\/woolworths-torquay-central-sold-for-25m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Woolworths Torquay Central sold for $25m - Surf Coast Times\" \/>\n<meta property=\"og:description\" content=\"THE Woolworths Torquay Central supermarket has sold to a private investor for $25.1 million. Touted to investors as the town\u2019s \u201cmost substantial and strategic commercial landholding\u201d when listed in October last year sold yesterday for more than $5 million above Stonebridge Property Group\u2019s initial\u00a0expected price of $20 million. 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