Schofields woolworth shopping center sold for $37.5m record price

Northwest development potential have pushed the price of a Sydney neighborhood shopping center to $37.5 million The winning bidder paid a record-low yield of 3.75 percent for the 1.2-hectare Woolworths-anchored property opposite Schofields Station in the heart of Sydney’s north-west growth corridor.

Colliers agent James Wilson, who sold the asset for Singapore-based Firmus Capital with colleague Harry Bui, said the yield was lower than recent benchmark sales such as Woolworths Bulli, which sold last October for $36 million on a return of 4 percent. Schofields is in the TOP 30% in NSW when comparing median price capital growth over the last year. Schofields gave property investors a good capital gain figure when compared to the rest of the state, with 13.62%. Suburbs in the West, North-West, and South-West have lots of residential areas that are quickly rising in terms of value. These have more space with easy access to amenities.