The marketing campaign generated greater than 400 enquiries and 15 bids from a spread of personal traders and builders, together with a number of sourcing cash offshore, the brokers mentioned.
Retail transactions this 12 months are subdued in Victoria. Inventory ranges and transaction volumes are down throughout the board after file volumes seen final 12 months.
“There has solely been few main retail belongings transact this 12 months, with neighbourhood and subregional centre transactions being extraordinarily quiet. There is no such thing as a doubt that vendor confidence on the high finish has waned,” Taylor mentioned.
Solely round $676 million value of retail property has offered within the 12 months thus far, a pointy 65 per cent drop on $1.96 billion offered by this level in 2021.
Noonan mentioned non-public traders, who generally can stump up giant sums of fairness to fund their purchases, will not be as affected by steep rises in rates of interest and are nonetheless bidding competitively for premium belongings in comparison with different traders who’re reliant on debt.
“It’s considerably of a two pace market I suppose,” Noonan mentioned.
Dan Murphy’s has about 250 shops nationally. Its shops usually maintain a digital monopoly within the space the place they’re situated which means the group hardly ever must relocate shops.
That geographical longevity is prized by landlords and traders alike and creates a Dan Murphy’s ‘premium’ over different retail investments.
Dan Murphy’s proprietor, the $13 billion ASX-listed Endeavour Group, mentioned on Monday it generated $2.49 billion gross sales in its shops throughout the September quarter, down 6.2 per cent on the earlier corresponding interval.
“Our year-on-year comparability reveals a predictable decline as we cycle the distinctive spikes in demand created by COVID-19 restrictions that notably affected key inhabitants centres of New South Wales and Victoria this time final 12 months,” chief government Steve Donohue mentioned.
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