Woy Woy’s Deepwater Plaza has been sold to a private investor as “renewed demand” for sub-regional centres grows.
The 17,417sq m shopping centre is located in the north of Sydney and is anchored by Coles supermarket, complemented by Kmart and a variety of national and chain retailers. CBRE’s Head of Retail Capital Markets for Pacific, Simon Rooney, said investors were “attracted” by the centre’s “robust” major tenants and overall sales performance.
“This transaction demonstrates the shift in investor focus and renewed demand for sub-regional centres, specifically for assets with a clear focus on non-discretionary spending and genuine value-add opportunities.”
The site is also located adjoining the Woy Woy railway station providing long-term “value-added opportunities” for specialty re-leasing and mixed-use development avenues.
