Ep35 Village Dandenong shopping centre Dandenong south 

Perth-based RG Property has sold a convenience-based shopping centre in the Melbourne suburb of Dandenong for $29.1 million to a Chinese investor at a yield of 5.19 per cent.
The Village Dandenong is anchored by a full-line Woolworths Supermarket and BWS Liquor and supported by 15 specialty retail tenancies.
Located approximately 35km south-east of Melbourne CBD, Dandenong forms part of Melbourne’s thriving south-eastern growth corridor and is one of Victoria’s largest economic hubs and fastest-growing regions.
At a glance:
The Village Dandenong in Melbourne's south-eastern growth corridor has been sold to a Chinese investor for $29.1 million, reflecting a yield of 5.19 per cent.
The convenience-based shopping centre is anchored by a full-line Woolworths Supermarket and BWS Liquor and supported by 15 specialty retail tenancies.
The off-market transaction was brokered JLL’s Stuart Taylor and Ming Xuan Li on behalf of Perth based RG Property Group.
The transaction represents the 5th Victorian neighbourhood shopping centre sale to be completed in 2020 (3 of which have been sold by JLL) totalling $118.93m and an average weighted initial yield of 5.47 per cent.
JLL's Stuart Taylor, who brokered the transaction with Ming Xuan Li, said the strong pricing achieved in the off-market transaction confirmed the robust demand for non-discretionary retail assets.
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