Flagship mall on lower north shore set for big change
Located just 5.8km from Sydney's CBD, HomeHQ Artarmon has been described as a 'flagship retail destination' and includes a variety of home appliance and furniture stores, among others.
The centre is one of only three within a 10km radius of Sydney's CBD, alongside Moore Park Supa Centa and Alexandria Homemaker Centre.
The rarity of the Artarmon centre within one of Australia's most tightly held real estate markets is expected to attract strong interest from domestic and international investors alike.
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Located near the Pacific Highway and M2, the centre services a trade area population of over 678,000. This includes a primary trade area of 235,561 people, with per capita incomes of 48 per cent above the Sydney average, according to details of the sale provided by selling agents JLL and McVay Real Estate.
Since its development in 2013, the mall has become home to premium brands including Nick Scali, Provincial Home Living and Oz Design as well as a new food and beverage anchor, Depot Brewery.
The centre also provides the opportunity to attract further national tenants.
The assets of the sale include multiple loading docks, high clearance and 427 car parks.
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Nick Willis, executive director of retail investments at JLL, the team managing the sale, said the centre's proximity to the Sydney CBD would likely attract investors seeking a high performing asset.
Co-agent Sam McVay of McVay Real Estate said inner-ring large format retail assets of this calibre were consistenly saught after, but rarely came to market.
'Over the past five years, a mere 17 per cent of national LFR centre sales occurred within 10km of a major CBD, and remarkably, only one centre within 10km of the Sydney CBD has traded hands during this period,' he said.
HomeHQ is being sold via an international expressions of interest campaign closing August 28.
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