A busy hinterland supermarket has sold to an interstate investor in a deal worth $13.75 million.
Maleny Woolworths was sold via a national expressions of interest campaign by Stonebridge Property Group that generated more than 160 genuine inquiries and resulted in six formal offers.
The property ultimately sold unconditionally to a high-net-worth interstate investor from Stonebridge’s buyer network.
The supermarket is 100 per cent leased to Woolworths Group through to 2031, with options extending to 2056.
The property includes the 2038sqm supermarket and 109 car parks on a 5225sqm landholding zoned District Centre in the hinterland town.
It is understood Woolworths has leased, not owned, the site for a number of years.
There won’t be any changes to operations or the inside of the store.
The sale was conducted by senior executive Thomas Proberts, national partner Philip Gartland, Michael Collins and Justin Dowers from Stonebridge.
Mr Proberts said the property sale generated strong interest.
“Clear appreciation was shown for the rarity of the offering, as investors become increasingly aware of the challenges in delivering single-tenanted supermarket and retail assets in today’s construction environment,” he said.
“This drove strong national interest and resulted in an unconditional sale at a sharp 5.12 per cent yield for a non-metro asset.”
Mr Gartland said the supermarket was an attractive financial asset.
“In an environment of reducing interest rates, we are seeing increasing momentum from high-net-worth private investors actively seeking secure income-producing assets,” he said.
“The sale of Woolworths Maleny highlights this shift, as investors prioritise quality, scarcity and long-term lease tenure in defensive sectors such as supermarket-anchored retail.”
Stonebridge is a commercial real estate agency specialising in the sale, leasing and management of retail property and mixed-use development sites. Across Australia and New Zealand, it has completed more than $5 billion in transactions.
