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Private investor pays $38m for Geelong mall Share The Woolworths-anchored Bellarine Village Shopping Centre near Geelong has changed hands for the second time in less than three years amid a push by investors into neighbourhood malls and other non-discretionary retail assets. Property records show Yunlong Lu placed a caveat over the property on March 11. The Bellarine Village Shopping Centre includes a Woolworths and a Dan Murphy’s. The Australian Financial Review understands a purchase price of $38 million was agreed with the Zahra family’s Westrent Properties representing a sub-5 per cent yield on passing income. Westrent acquired the 10,439 square metre, single-level neighbourhood centre in Newcomb for $36.5 million in mid-2018 on a passing yield of 5.8 per cent a year after buying a Woolworths supermarket in Glenroy in Melbourne’s northern suburbs for $9.8 million. ....