Stonebridge Property Group is pleased to announce the sale of Arena Shopping Centre via Public Expressions of Interest.

Arena Shopping Centre is a 2014-built neighbourhood shopping centre anchored by a full-line Woolworths supermarket + BWS. The Centre is complemented by 3 mini-major tenants, 22 specialty shops, 2 kiosks plus McDonald’s and EG Group pad sites. Located 55 km* south-east of the Melbourne CBD, Arena services the high-growth suburb of Officer and is situated on the corner of Princes Highway and Cardinia Road.

The sale represents the first Victorian on-market neighbourhood centre transaction in 10 months and highlights the rarity of the offering.

Kevin Tong commented “Despite the eventual purchaser being a local private investor, the direct two (2) underbidders were private investors of Asian heritage who have been actively looking for Victorian neighbourhood shopping centres for the last 6 months. Their attraction to the asset class has increased as their mandates for security and longevity match the attributes of neighbourhood shopping centres investments”

“Arena Shopping Centre is the first major Neighbourhood Shopping Centre transaction to occur since Dec-21 and demonstrates there has been only a minor shift in cap rates following the substantial increases in the cost of debt. In this campaign, we saw an increase in activity from Private Investors who in some cases, are looking to acquire high quality centres like this with little to no debt funding” – added Justin Dowers.

For any questions regarding the sale, please contact Stonebridge Property Group:

Justin Dowers
0438 098 805

Kevin Tong
0422 848 818

Property Code: 575