Melbourne

Beaconsfield Hub set to shine

The Beaconsfield Hub retail centre within the growing Cardinia Shire to Melbourne’s south-east has been listed for sale.

31 Jul 2020

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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About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.