It has become more apparent in the wake of the pandemic, that more people are now viewing the idea of a sea change as a reality rather than a distant dream. Many are fleeing the city lifestyle in favour of the relaxed, expansive regions, and now Stonebridge Property Group are offering the perfect New South Wales landholding for investors to capitalise on this remarkable shift in demographic and the economic benefits this change brings.
Woolworths Bomaderry Shopping Centre is being offered to market with tenant security of the trusted national brand, and it’s sure to cause a frenzy in the commercial property industry.
National partner and selling agent Justin Dowers commented, “The NSW South Coast is benefitting from the post-COVID sea-change, with median house prices in Bomaderry increasing almost 33% over the past 12 months. When coupled with the boom in domestic tourism, this Centre is perfectly positioned for growth”.
Congruent with this increase in price and demand is the rapidly swelling population of Bomaderry. Nestled amongst idyllic bushland surroundings, and sitting on the Shoalhaven River, it offers a retreat for those looking to escape metropolitan Sydney by going south. That, combined with a close-knit population of 6,827¹ who regularly receive visits from the locals of neighbouring community Nowra, indicates Bomaderry is poised for more rapid growth.
Woolworths seemed to recognise this before anyone else, with the facility only recently opening in 2020. Since then, The Centre has proven to be a high performer, achieving an outstanding first year trade. Part of this success has been due to the location as the property is strategically situated on the Princes Highway, and as such, it receives a steady stream of tourists, travelers and workers on a daily basis.
But investors should also be chomping at the bit inspecting the stores supporting the Woolworths. The shopping centre possesses a Plus Fitness outlet, a pharmacy and medical centre, and 4 additional specialty shops. The successful buyer will end up owning 5,451 sqm of lettable area and with a Weighted Average Lease Expiry (WALE) of approximately 9 years, they will end up with an extremely secure, “set-and-forget" landholding.
That WALE of 9 years is anchored by a brand new, 10-year lease to Woolworths, who also have ten 5-year options Stonebridge National Partner Phillip Gartland commented, “Woolworths Bomaderry is a truly unique asset that has demonstrated exceptional first year trading performance. According to Location IQ up to approximately 21% of visitation to the centre [coming] from outside the Main Trade Area, highlighting the absolute convenience and strength of trading position next to a key arterial route”,
Woolworths is not the only major, national brand in the immediate vicinity of the centre. Located 300 metres away from the intersection of Princes Highway, Moss Vale Road and Cambewarra Road, other notable brands like McDonalds and KFC are within walking distance. Additionally, three motels/hotels lie close by, thus driving further foot traffic to not only the supermarket, but the adjoining stores too.
For Stonebridge Property Group, their recent experience striking deals in the supermarket sector saw a Woolworths in Eltham, Victoria sell for $35 million in April of this year, the team who brokered that successful acquisition including two of the agents for this property, Justin Dowers and Kevin Tong. Woolworths Bomaderry Shopping Centre is for sale by Expressions of Interest, closing Wednesday 8th of June, 2022, at 2pm. View the listing here.
¹Australian Bureau of Statistics (ABS)
