$450m retail mega-portfolio up for grabs

A retail portfolio made up of 14 high-quality assets has been made available for purchase and is expected to fetch up to $450 million.

The impressive offering spans across five states and features mainly small, single tenanted properties that offer long WALE.

The blue-chip Lowenbrow portfolio is owned by a private syndicate of Australian based investors and has been attracting significant interest before even being listed for sale with CBRE.

CBRE’s Pacific Head of Retail Capital Markets Simon Rooney says that the chance to own a secure set of retail assets is sure to turn buyers’ heads.

“The portfolio presents an immediate opportunity for major investors to acquire, institutionalise and immediately grow a high quality, long WALE or convenience retail portfolio, or to significantly add to an existing asset pool,” he says.

The type of assets on offer have been the real standout market performers both during, and as Australia emerges, from the current COVID-19 period and continue to be highly sought after by major institutional owners, offshore capital and high net worth and private investment groups.

CBRE Pacific Head of Retail Capital Markets – Simon Rooney

The portfolio features assets across NSW, Victoria, Queensland, South Australia and Tasmania with tenants including Bunnings, Coles, Kmart, Officeworks and Woolworths.

It is thought that smaller-style retail offerings like this privately held portfolio will continue to perform well this year and generate increasing investor interest.

“Most activity and demand for retail assets in 2021 is expected to centre around long WALE, primarily single tenanted, low volatility assets which offer transparent in-built returns, underpinned by strong covenants,” Simon explains.

The portfolio is listed for sale via an off-market expressions of interest campaign closing in mid-March.

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