Lendlease to sell Sydney dining and retail precinct Darling Square

(Source: Colliers)

Lendlease has exclusively listed Sydney-based shopping centre Darling Square Retail for sale through Colliers.

The shopping centre serves as home to 44 retailers across a total footprint of 9639 sqm and has a full occupancy rate across 4516 sqm of gross lettable area. 

Lachlan MacGillivray, MD of retail capital markets at Colliers, said the company is marketing a 100 per cent leasehold interest in Darling Square Retail, comprising the North East, South East and South West retail strata.

“Underpinned by strong sales productivity and sustainable occupancy costs, the precinct has a secure platform for substantial rental growth,” said MacGillivray.

The shopping centre’s tenants are a mix of restaurants, takeaway stores, coffee shops, bubble tea outlets, desert bars, and mainstays namely McDonald’s and Starbucks.

Darling Square precinct has about 1500 residential units, 26,000 sqm of commercial office space, 12,000 sqm of retail community and leisure uses, 1300 bed student accommodation and a 590-room luxury hotel. 

“Australian CBD retail precincts are some of the most tightly held, with investment opportunities of this scale, quality and reputation extremely rare,” said MacGillivray.

Submissions of expressions of interest for Darling Square Retail will close at 2:00 pm on October 20.

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