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Pakington Strand Shopping Centre 95-103 Pakington Street
Geelong West VIC 3218
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Pakington Strand Shopping Centre 95-103 Pakington Street Geelong West VIC 3218

  • Shop & Retail
  • 5,317 m²
  • Expressions of Interest

Geelong's Best Income Producing & Landbanking Opportunity

  • Government endorsed development site
  • 28 year Woolworths lease
  • 100% Leased centre

Colliers and Stonebridge are pleased to exclusively present for sale Pakington Strand Shopping Centre, Geelong's Best Income producing & Landbanking Opportunity.

A prime 100% leased neighbourhood shopping centre anchored by Woolworths, Pakington Strand Shopping Centre is located in the affluent inner-metropolitan Geelong demographic just 2km from the CBD and 76km south-west of the Melbourne CBD.

The Centre comprises of 13 specialty shops, 3 kiosks and 1 ATM accounting for 5,317 sqm of GLA with access to 307 car spaces (5.77/100sqm of GLA). With a 28-year lease and options till 2079, the Centre's ultra-dominant Woolworths supermarket is currently trading above benchmarks and paying turnover rent.

The significant 20,984 sqm landholding boasts 412 metres of frontage across three streets and is Mixed Use Zoned (MUZ) and has been government endorsed for the entire Pakington Street precinct to undergo significant redevelopment. The centre benefits from its low site coverage and generous carpark allocation. The allowable height on certain parts of the site reaches 6 storeys allowing for a multitude of development possibilities.

Investment Highlights

1. Significant 20,984 sqm landholding with 412 metres of frontage across three streets

2. The largest commercially zoned site along Pakington Street

3. Unparalleled opportunity for a mixed-use development comprising retail, commercial and residential

4. Government support being designated a strategic site under the Urban Design Framework

5. Low current site coverage of 25% with provision for 60% site coverage

6. Strong performing Woolworths-anchored neighbourhood shopping centre paying significant percentage rent

7. 28-year lease to Woolworths with options till 2079

8. Ultra-dominant supermarket trading significantly above benchmarks

9. 100% leased centre with 74% weighting (GLA) to Woolworths

10. Affluent inner-metropolitan Geelong demographic just 2km from the CBD and 76km south-west of the Melbourne CBD

*Approximately

Pakington Strand Shopping Centre is being offered for sale via Expressions of Interest (EOI).

Please contact the exclusive marketing agents for more information.

Colliers
Tim McIntosh | 0488 320 063
James Wilson | 0402 079 304

Stonebridge
Kevin Tong | 0422 848 818
Justin Dowers | 0438 098 805

EXPRESSION OF INTEREST

Closing date and time05/12/2023 14:00
Recipient nameAsk Agent
Delivery address.

Property Highlights

Floor Area5,317 m²
Land Area2.1 ha
Parking307 x Onsite parkings
Annual ReturnAsk Agent
AvailabilityTenanted
Property ID2018876638
Category
Last updated  19 Dec 2023
Map for Pakington Strand Shopping Centre 95-103 Pakington Street Geelong West VIC 3218

Property Highlights

Floor Area5,317 m²
Land Area2.1 ha
Parking307 x Onsite parkings
Annual ReturnAsk Agent
AvailabilityTenanted
Property ID2018876638
Category
Last updated  19 Dec 2023
Level 30/367 Collins St Melbourne VIC 3000

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