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Bacchus Marsh town centre hits the market

Property Markets / Transactions

Australia

Mar 08 2018

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The Village Bacchus Marsh has entered the market, after being listed by property group Abacus.

Purchased by the AXS-listed group in 2013, the 16,000sqm shopping centre, west of Melbourne, was expanded and refurbished last year. 

The centre is currently tenanted by 68 specialities stores, anchored by Coles and Aldi, with a WALE by income of 7.5 years. 

Valued at between $60 and $70 million on a passing yield of about 6.1 percent, the shopping centre is expected to draw a strong market response. 

CBRE National Retail Investments director Mark Wizel told the Urban Developer that Bacchus Marsh Village was located in one of Australia’s fastest growing regional housing markets. 

Abacus owns and manages a $1.9 billion commercial real estate portfolio and a $400 million retail portfolio, having spent more than $140 million on two new properties already this year. 

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