Stirling Property Funds buys McGraths Hills Home retail centre

Stirling Property Funds has purchased McGraths Hills Home large format retail (LFR) centre in Sydney’s North West Growth Area for $55 million.

“The acquisition of McGraths Hill Home was well supported by our clients, who continue to be attracted to investment opportunities within the LFR sector,” said Scott Girard, head of property at Stirling.

“The sector provides exceptional investment fundamentals with the ability to acquire quality assets such as McGraths Hill Home at prices well below replacement cost.”

The 100 per cent leased retail centre sits on a 3.78-hectare site on the Windsor Road within the McGraths Hill industrial precinct. Its tenants include Bunnings, Harvey Norman and BCF.

James Douglas from CBRE managed the off-market sale of the property.

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