Sydney

Change of hands for Sydney's Green Valley Shopping Village

A family-owned shopping centre in Sydney’s Green Valley has changed hands for $17.3 million after a competitive sales campaign.

10 Apr 2019

A family-owned shopping centre in Sydney’s Green Valley has changed hands for $17.3 million after a competitive sales campaign. 

The Green Valley Shopping Village, located at 170, 172 & 178 Green Valley Road, is a 2,820sqm retail centre featuring 20 specialty shops. 

Located on a 4,774sqm site, the Green Valley Shopping Village has been owned by a Western Sydney family for over half a century. An eastern suburbs family purchased the property for a sharp yield of close to 6%. 

CBRE’s Peter Vines managed the Expressions of Interest campaign. 

“The sale of Green Valley Shopping Village highlights the continued level of demand in the wester corridor market for prime, income producing investment stock with development upside,” Mr Vines said. 

The strong sale result is further evidenced given the centre is not anchored by any major supermarket or national brand. 

The sale follows other major shopping centre that transactions in the area over the past year, including Cranebrook Shopping Village for $48.1 million on a yield close to 5.0% and Shopsmart Mount Druitt for $25 million on a yield close to 6.0%. 

CBRE’s Nick Willis, who is currently marketing the sale of Junction Fair Shopping Centre in Newcastle’s CBD, commented: “Despite the continued negative commentary surrounding the retail sector, we are currently experiencing strong investor demand for opportunities that are underpinned by strong fundamentals as investors are seeing relative value compared to other sectors.”For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.