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Village goes to market
Picture: Yanni
THE pending sale of the Mornington Village Shopping Centre will “test the market as the first core Victorian neighbourhood shopping centre offering of 2021”.
Agent Stonebridge Property Group says the centre has “long been an investor favourite based on recession proof and non-discretionary tenancy profiles, especially in booming areas like Mornington”.
The sale price is expected to be around $40 million. It last sold in 2018 for $39 million.
The Main Street centre at the corner of Cromwell Street is anchored by Woolworths and Aldi supermarkets as well as The Reject Shop, Pharmasave, medical centre and 14 retailers over 7963 square metres. There are 455 outdoor car spaces and 55 undercover spaces.