JUNCTION Fair shopping centre will hit the market, selling agent CBRE has announced.
Owner Fortius Funds Management will divest from the 7226-square-metre complex which sits on a site of more than 11,000 square metres.
The funds management firm bought the shopping centre for $32 million in 2014 and had outlined its plan as "re-positioning, re-configuring, re-mixing and re-leasing vacant areas.
CBRE said the site's net annual income return is approximately $3.2 million.
Fortius fund manager Sam Sproats said the group had regenerated the centre.
"The centre is in a great location in a constantly improving demography and surrounded by three schools," he said.
"We have spent considerable time rolling the sleeves up and ensuring we got the strategy and detail right for this shopping centre."
CBRE's Nick Willis, who is selling the property alongside Stonebridge's Philip Gartland, said investor demand had shifted towards retail assets based around groceries and other non-discretionary spending.
"Opportunities such as Junction Fair should be strongly considered and sought after," he said.
"The robust performance of non-discretionary retail centres, particularly those with destination experiential offers like Junction Fair, remain in strong demand.
"The Essential Ingredient's cooking school is a great example of experiential retail."
Expressions of interest for the property close on April 11.