Huntlee Shopping Centre listed for sale with price expectations above $30 million

Coles Group Property Developments is selling the centre which opened in Huntlee in North Rothbury in 2020.

The 4624 square metre site, which is anchored by a Coles supermarket, is listed for sale by expressions of interest with James Douglas of CBRE and Colliers' James Wilson and Ben Wilkinson who are guiding price expectations "in the $30 millions".

The fully leased centre includes a Coles supermarket, Liquorland and 11 speciality retailers including a medical centre, pharmacy and allied health.

CBRE's Mr Douglas said the listing comes amid strong investor demand for neighbourhood retail assets and was expected to generate significant interest from a range of private, syndicate and institutional investors.

He said the centre had a secure lease expiry profile with Coles and Liqourland committed to new 10-year net leases to 2033, with options until 2083.

"Huntlee Shopping Centre provides a rare opportunity to acquire a new, dominant and strong performing Coles anchored shopping centre, which is set to enjoy real sales and income growth courtesy of its rapidly growing trade area," Mr Douglas said.

"The investment provides opportunities to enhance the centre's income through Coles' performance and the speciality tenant profile, as well as offering a high degree of expense protection, predominantly via the favourable Coles net lease."

The centre sits among a rapidly growing precinct in Huntlee which also has a childcare centre, tavern and fast food outlets.

Mr Douglas said Huntlee was expected to be gradually developed to accommodate around 7,500 new dwellings and more than 20,000 residents in the coming decades.

Forecast government and private investment in Huntlee is set to exceed $1.5 billion over the next 20 years, including the delivery of affordable housing, primary and senior schools, education facilities and services, health services and infrastructure.

Expressions of interest close on October 19 at 2pm.

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