$23m expected for first Sydney supermarket listed in three years
Earlwood Coles is looking for a new owner with the 3000sqm corner site set to fetch more than $23 million.
Just 650m from Bardwell Park train station, the Coles Supermarket and adjoining BWS liquor store are set to be auctioned off and include 86 car spaces.
It is owned by Charter Hall Retail REIT, which has over 66 retail assets across Australia.
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Listing agent Nick Willis of CBRE says the opportunity to secure a freestanding supermarket will be strongly contested.
“Freestanding supermarkets of this nature, in metropolitan Sydney, are seldom offered to the market,” he says.
“This property provides the incoming purchaser with an opportunity to acquire not only a secure and growing income stream but also the potential to unlock a future mixed use development.”
The supermarket is the first one to be formally offered for sale in Sydney in almost three years.
There is scope for further use as well, with the site being zoned B2 Local Centre, allowing development of up to 14 metres.
Earlier this year, Coles Clayton in Melbourne sold for $17.115 million.
This article from The Inner West Courier first appeared as “Coles Earlwood set to go to auction with guide of $23m plus”.