Industry News

Trophy retail asset in Sydney’s inner west is on the market

The campaign for Norton Central closes March 18 2021

Colliers are facilitating the sale of Norton Central, a 1,420m2 two-level, retail complex in Leichhardt, Sydney.

Built in 2004, Norton Central is located on Norton Street, the key retail and dining precinct in the suburb and is 100% fully leased with national and chain tenants securing 87% of the Centre’s income.

 “There is a lack of premium Sydney Metropolitan assets currently on the market; for this reason, we anticipate interest from high net worth individuals, syndicates and developers,” said Harry Bui, National Director, Investment Services at Colliers.

Alex James-Elliot, Associate Director, Retail Investment Services at Colliers said “It is extremely rare for an investment opportunity of this quality and scale, located only 6.5 kilometers from the Sydney CBD to be offered to the market.”

“The current low interest rate environment is enabling high quality returns available for investors on quality assets, such as Norton Central, particularly when serviced by affluent trade areas, and are subsequently more attractive in the current market. There are also tax depreciation benefits available for the incoming purchaser – further improving the returns of offer.”

“The potential to take advantage of the planned the Parramatta Road Urban Transformation Strategy, with Norton Street a key precinct, provides a myriad of future uses (subject to council approval) should investors wish to reposition or redevelop the property in the long term.”

The campaign for Norton Central closes March 18 2021.

About the author

Shopping Centre News

Shopping Centre News (SCN) is in the ‘information business’, and is perceived as such by its readers. Daily industry news makes shoppingcentrenews.com.au a must-visit as part of the morning routine for those who want to keep right across the latest retail developments and events, while SCN's premium magazine is the leading publication for the shopping centre industry in Australia and New Zealand.

Known as the ‘industry bible’ SCN is printed five times a year with fascinating, in-depth features and important critical analysis written by known industry insiders as well as the popular ‘Guns’ reports, which ranks Australian shopping centre performances. Shopping Centre News is the only publication in the world that features centre statistics on Turnover, Turnover per square metre and Specialty Shop turnover per square metre for every major centre in Australia.

Add Comment

Click here to post a comment

Advertisement

Advertisement