‘Iconic’ Manly shop set to sell
Coles Manly Corso set to sell for the first time in 40 years.
The iconic Coles Manly Corso is set to sell for the first time in around 40 years.
The Northern Beaches retail investment anchored by Coles supermarket, NAB and a local MP’s office will hit the market next week.
Positioned in the heart of Manly’s CBD, one of Australia’s most renowned tourist and lifestyle destinations attracting around 1.8 million visitors annually, Coles Manly Corso boasts a 45 metre frontage along the Corso.
Only 200 metres from Manly Wharf, the property enjoys direct connection to Sydney’s CBD and is one of the primary gateways to Sydney’s Northern Beaches.
Comprising 2,464 sqm of lettable area and basement parking for eight vehicles, the asset is anchored by ASX-listed Coles Group on a 10-year lease plus options to 2042.
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Located right in the heart of Manly CBD.
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Coles, NAB and the MP’s office contribute 95 per cent of the gross income, underpinned by strong rental growth mechanisms across all lease is currently 100 per cent occupied.
Stonebridge Property Group’s Philip Gartland, Alex James-Elliott, and Spero Xenos are managing the sale.
“Coles Manly Corso represents a generational opportunity to acquire a fortress retail investment in one of Sydney’s most tightly held and iconic retail strips,” Mr Gartland said. “With 95 per cent of the income secured by blue-chip national tenants, Coles, NAB and the Commonwealth of Australia, and unrivalled exposure along the Corso, this is a truly irreplaceable investment.”
Close to the CBD, Manly Wharf and Beach.
Mr James-Elliot added that the lease to Coles is rare and “highly landlord-favourable.”
Manly’s average retail spending per capita is 51 per cent above the Greater Sydney average, according to Location IQ.
Located 11km south of the Sydney CBD and accessible via a 20-minute ferry ride from Manly Wharf, Stonebridge expects Coles Manly Corso to attract strong interest from private capital, institutional investors and offshore groups seeking a flagship foothold in one of Sydney’s high-growth retail markets.
The property is open via an expressions of interest campaign, which is set to close on Thursday, 29 May 2025.
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