Brandon Park Shopping Centre in Melbourne up for sale

It boasts a total lettable area of 23,038 square metres.

Melbourne's Brandon Park Shopping Centre has been put up for sale with a 100% interest being offered by Newmark Capital.

The asset boasts a total lettable area of 23,038 square metres, with a site coverage of just 40%. It includes supermarket anchors, five mini-majors, and 86 specialty tenancies and kiosks.

“Brandon Park is a significant retail asset in the landscape of Melbourne, encompassing 5.81 hectares of land with a retail centre anchored by Coles and Aldi,” said Newmark Managing Director Chris Langford.

Strategically positioned near the Monash National Employment and Innovation Cluster (NEIC), the centre benefits from a main trade area of 85,870 residents and a local workforce of 6,000, supporting retail performance.

CBRE's Simon Rooney, James Douglas, and David Minty, along with JLL's Stuart Taylor, Nick Willis, and Jesse Radisich, are managing the sale of the centre on behalf of Newmark Capital.

“We expect Brandon Park to attract strong domestic and offshore investor interest, as metropolitan Melbourne investment opportunities offering the scale of Brandon Park, value enhancing opportunities and an approved development application in place are rarely offered to the market," said Rooney.

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“The asset provides an extraordinary opportunity for both traditional retail investors and mixed-use capital to secure a major island site in Melbourne’s prized south-eastern suburbs, which is underpinned by strong retail fundamentals whilst providing exceptional value-add and development optionality,” added Taylor.

In 2017, Newmark Capital purchased the centre and secured development approval in 2022 to introduce additional medical, retail, commercial, and residential facilities. The site is classified as a 'Major Activity Centre' under planning regulations.