A private investor has secured the retail component of the new Omnia residential development in Potts Point amid strengthening demand for supermarket based assets.
Located in one of Sydney’s most affluent suburbs, the Woolworths Omnia centre comprises the 1,190sqm retail component of the new Omnia residential development, and is anchored by a 15-year prelease to Woolworths.
CBRE’s Nick Willis, Justin Dowers and Sharon Yang negotiated the sale via an International Expression of Interest campaign.
Mr Willis said the sale highlighted strengthening interest in Sydney’s tightly held metropolitan retail investment market.
“The property’s strategic inner-city Sydney location, adjoining the Kings Cross train station, attracted strong interest at both a national and international level,” Mr Willis said.
“This sale reaffirms the sustained demand for supermarket based retail investments, which continues to be a strengthening trend in the Sydney market.”
Developed by internationally renowned developer Greenland Group, Omnia is set to become a landmark residential building in Sydney’s inner-east, located just two kilometres from the CBD.
Mr Willis said growing appetite for mixed use retail opportunities was further underpinned by the rise of retail and residential integrated projects.
“Investors are becoming aware of the benefits of acquiring mixed use retail centres, particularly those that leverage off well thought design between the residential and retail component, such as Omnia,” Mr Willis added.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
