Stonebridge is proud to exclusively present for sale Wicks Place, an opportunity to acquire a brand-new retail investment occupying the entire ground floor (plus part basement car parking) of a premium mixed-use development in Sydney's evolving and highly connected inner west.
Wicks Place is a modern neighbourhood shopping centre securely anchored by Harris Farm Markets and an integral part of Marrickville's newest fresh food and dining destination.
The key highlights of this rare opportunity include:
- Brand new neighbourhood centre anchored by blue-chip retailer, Harris Farm Markets, plus 4 specialty shops over 2,318 sqm of lettable area (1)
- Highly desirable inner west location only 7km* to Sydney CBD, positioned at the core of the Victoria Road Precinct rezoning permitting increased residential density
- The suburb of Marrickville is vastly under-supplied in terms of supermarket floorspace and has very high barriers to entry
- Proximity to public transportation, including Sydenham train & metro station (600m*) and Marrickville train station (1km*). The area surrounding Marrickville station has been designated as a Transport Orientated Development zone and significant intensification is likely in the trade area
- Harris Farm Markets underpins 71%* of income on a new 12-lease with options to 2067, annual rent reviews and a percentage rent clause
- Secure and growing income stream featuring a long WALE of 10.1 years* (income), fixed and CPI-linked annual rent reviews and upside potential via strategic leasing
- Affluent population with average household income 25% above the Greater Sydney average and a strong forecast population growth rate of 1.4% p.a. to 2041 (2)
- Valuable and easily accessible basement parking for 87 vehicles plus 5 ground-level spaces on title (4 spaces per 100 sqm of lettable area)
- Completed in 2024 to a premium standard, developed and built by TOGA, with potential for significant depreciation benefits
- Estimated fully leased net income of $1.67 million p.a. as at Sep-24
Wicks Place is for sale via Expressions of Interest closing Wednesday 30th October at 3:00pm (AEDT).
To obtain further information or to arrange an inspection, please contact the exclusive selling agents.
* Approximately
(1) Harris Farm fit-out underway, to open in Q1 2025
(2) LocationIQ, within a 3 km radius
