May, 2016: The Stables shopping centre bought in $28 million deal by major fund manager
The shopping centre, located in Golden Grove, 22 kilometres from the Adelaide CBD, is anchored by a full Woolworths and also includes a BWS, medical centre and pharmacy.
Commenting on the sale, Robert Stanley-Turner from Box Commercial Estate Agents said, ‘Neighbourhood centres, and neighbourhood living in general, are becoming increasingly popular because traffic congestion is getting worse as populations in major centres boom. The Stables is a brilliant example of how far-sighted thinking adds up to a great investment.’
Melbourne-based Box Commercial consults to property syndicators across Australia, monitors sales and trends in group investments and refers individual investors to investor groups.
Mr Stanley-Turner also said that parking availability was a top consideration of retailers.
‘The Stables has plenty of parking, which means shopping here—even stopping just to pick up a couple of things—is easy and can be multi-purpose. These are the kind of fundamentals that keep lease terms long and vacancies few,’ Mr Stanley-Turner said. ‘And for the kicker, The Stables is the only full-service shopping centre in the immediate surrounding area. Monopoly=great investment.’