Ocean Grove Marketplace

Centre Overview

Ocean Grove Marketplace includes a full-line Woolworths supermarket, as well as  20 specialty stores and two freestanding pad sites occupied by KFC and Woolworths Petrol Plus. The centre has ample on-grade parking. While the centre’s customers are predominantly local families, the seasonal tourist trade has a notable impact, as the population increases with holidaymakers from Melbourne over the warmer months.

Location details

Ocean Grove is located at the entrance of Kingston and 95km from Melbourne. Ocean Grove is a seaside town in Victoria,  Australia, located on the Bellarine Peninsula. The area offers surf beaches, fishing, kayaking, canoeing, bushwalking, and other outdoor activities. While tourism makes the largest contribution to the local economy in high season, in low season a larger proportion of local income is derived from orchards, fruit and vegetable growers, and the local wineries.

Property Summary

Centre Type
Neighbourhood
Centre GLA sqm
6,899
Anchor tenants
Woolworths
No. of specialities
20
Valuation
$43.7m
Cap rate
5.50%
Occupancy rate
99%
WALE (years)
2.4

Location

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