SCA Property Group has bolstered its exposure to regional Victoria after paying $112 million for the Woolworths and Kmart-anchored Delacombe Town Centre near Ballarat.
The deal for the 19,098 square metre sub-regional mall on Glenelg Highway was struck on an implied fully let yield of 5.3 per cent. It was sold by locally based developer Troon Group, which completed the mall in 2017.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
