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Woolworths puts Melbourne office and distribution center up for sale

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Woolworths puts Melbourne office and distribution center up for sale

Woolworths Ltd. has listed an office and distribution center complex in Melbourne for about A$100 million, Inside Retail Australia reported Oct. 6.

The Wellington Road property in Mulgrave includes 68,144 square meters of office space and a distribution center, the report said. The property also includes a 19-hectare infill landholding and 38,000 square meters of surplus expansion land.

The retailer has said the sale will not impact its operations or network operations conducted through the site, Inside Retail Australia reported. The property offers a weighted average lease expiry of 3.8 years and annual income of about A$4.7 million, the report said.

Inside Retail said the retailer has appointed real estate agencies CBRE Group Inc. and Dawkins Occhiuto to find buyers for the property.