Green Valley Shopping Village on Green Valley Road has sold for $17.3m. The 2820-square-metre centre with 20 specialty shops on a 4774-square-metre site was owned by a western Sydney family for 50+ years. An eastern suburbs family bought it for a yield close to 6 per cent. CBRE's Peter Vines managed the sale. "It shows continued demand in the western corridor for prime income-producing investment stock with development upside," he said. The centre isn't anchored by a big supermarket or national brand. CBRE's Nick Willis said: "Despite negative commentary about retail, we're seeing strong investor demand for opportunities underpinned by strong fundamentals as investors see relative value."
SOLD: An eastern suburbs family has bought Green Valley Shopping Village for $17.3 million from a western Sydney family who'd had it for more than 50 years.
Green Valley Shopping Village on Green Valley Road has sold for $17.3m. The 2820-square-metre centre with 20 specialty shops on a 4774-square-metre site was owned by a western Sydney family for 50+ years.
An eastern suburbs family bought it for a yield close to 6 per cent. CBRE's PeterVines managed the sale. "It shows continued demand in the western corridor for prime income-producing investment stock with development upside," he said.
The centre isn't anchored by a big supermarket or national brand. CBRE's NickWillis said: "Despite negative commentary about retail, we're seeing strong investor demand for opportunities underpinned by strong fundamentals as investors see relative value."
