Kmart and Coles at Dorset Square Boronia for sale

Bargain hunters, renovators, fans of a good home hack — everyone loves shopping at Kmart. But what if you could own your very own store? Yes, that’s right — this branch in Melbourne’s east is on the market.

Kmart and Coles in Dorset Square Boronia are up for sale. Picture: George Salpigtidis

Cashed up investors are expected to swoop on a rather unique offering in the outer east — a Coles and Kmart store.

Vendor Coles has put the stores up for sale, via international expressions of interest.

According to real estate company CBRE, the outlets on the corner of Floriston and Chandler roads, near Boronia Mall, have a net income of about $2,050,000 per annum.

Coles has a lease until 2031 and Kmart until 2025.

Coles and Kmart in Boronia are up for sale.

The stores are surrounded by amenities and other retailers, are close to Boronia railway station, and serve a catchment area of more than 91,000 residents.

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There are 325 car spaces in front of the stores, and more than 700 in the nearby multi-level carpark.

CBRE director of investments Mark Wizel, who is marketing the property with senior director of retail investments Justin Dowers, said he expected a strong response from hungry and cashed up investors.

Mr Dowers said both tenants were performing above industry benchmarks, showing year on year growth, while Kmart was “significantly under-rented”.

“Like most parts of Melbourne, Boronia has seen strong population growth and will continue to benefit from that growth, providing retailers and other businesses with confidence in the region’s long-term prospects,” he said.

The stores are for sale via international expressions of interest closing October 24.