The Beaconsfield Hub retail centre within the growing Cardinia Shire to Melbourne’s south-east has been listed for sale.
Located at 52-62 Old Princes Highway, Beaconsfield Hub is a 1,883sqm convenience-based retail complex anchored by nine specialty retailers.
Having opened in 2010, the centre last changed hands in 2014 for $7.4 million and has a strong record of 100% occupancy.
The property’s nine, separately titled investments, positioned on a 4,600sqm Commercial 1-zoned site, will be sold in one line, with the scope for future subdivision and development (STCA).
The fully-leased complex occupies 135m of street frontage across the Old Princes Highway and Souter Street and is accompanied by on-title parking for 71 cars.
Rorey James, Nic Hage and JJ Heng from CBRE’s Melbourne & Mornington Peninsula Strip Retail Investments team are managing the Expressions of Interest campaign closing on September 3.
“Beaconsfield Hub generates more than $600,000 of net annual income and represents a unique opportunity for investors or land bankers seeking a strong initial return and the ability to improve the capital value in the short-to-medium term,” Mr James said.
“It is well-located, near Beaconsfield Plaza, Haileybury College, St Francis Xavier College and Beaconsfield Train Station, and its tenants are supported by the local community.”
Beaconsfield, an affluent Cardinia Shire suburb, is 44km south-east of the Melbourne CBD and accessed via the Monash Freeway and Princes Highway.
“Cardinia Shire is experiencing a period of rapid growth, with its population forecast to rise by 21% between now and 2023 and 66% by 2041,” Mr Hage said.
“Growth has been heavily driven by the rezoning and subdivision of land between Beaconsfield and Pakenham, which is set to bring four families to the shire each day.”
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