Shopping centres near Croydon seek investment

April 18, 2018 by  

Retail centres in the vicinity of Croydon are chasing investment as assets go on sale.

The Maroondah Village Shopping Centre (MVSC) changed hands for over $13m last time it was sold. The MVSC is convenient for residents of Croydon, and a vendor has invited bids for it once more. It has been predicted that the retail hub could fetch $18 million if an organisation purchases it this year. Demand for printing services may be boosted by local economic growth.

Mark Wizel is a national director at CBRE. He has paid close attention to the dynamism of the different Melbourne suburbs. He is interested in growth patterns across the state of Victoria. He commented:

Geelong is one of Victoria’s fastest growing regions with a forecast 32% increase in population by 2036 and Bellarine Peninsula is expected to experience an even stronger rate of growth of 63% by 2036. That is extraordinary growth and growth which will deliver the sort of catchment which underpins the most successful neighbourhood centres.”

CBRE has revealed that retail investments are increasingly popular. It suggests that this trend is observable across most of Australia. However, CBRE thinks that retail assets within Victoria are especially attractive at the moment.

It is unclear whether or not places like Croydon are on quite the same trajectory as Geelong, and it should be remembered that place-based population predictions are not always accurate.