A freestanding supermarket investment in the town of Kyneton, described as a key growth hub in Victoria’s Macedon Ranges, has been listed for sale by JLL.

The property, located at 62 Mollison Street, occupies a 1712sqm Commercial 1 Zoned landholding approximately 88km northwest of the Melbourne CBD. Anchored by a long-standing IGA supermarket and liquor store, the asset is said to offer a resilient income stream underpinned by a new five-year lease to an established multi-store operator.

JLL Retail Investments’ Senior Executives Romanor Falconer, Dominic McGrath and Director Tom Noonan have been exclusively appointed to manage the campaign via expressions of interest (EOI).

Mr Falconer says assets of this nature are extremely scarce and highly sought after by investors.

“Freestanding supermarkets are among the most tightly held assets in Australian commercial real estate. This is one of only three single tenanted offerings to come to market in Victoria this year and the first priced below the $5 million mark. We’re confident this highly accessible price point will attract significant interest,” he says.

“The asset features a new lease to an experienced, multi-store operator and occupies a proven site that has traded successfully for more than 20 years. With options extending to 2050, built-in fixed rental growth and turnover rent upside, it offers exceptional long-term income security.” 

According to JLL analysis, the Macedon Ranges Shire is on a rapid growth trajectory, with the population forecast to expand by 32% to over 75,000 residents by 2046.

Mr Noonan says robust supermarket performance and increasing investor demand for established regional centres continue to drive the market.

“Essential-service retail in strong regional towns remains a stable, low-risk asset class. Kyneton is a dominant commercial hub within the Macedon Ranges, supported by a diverse economy, affluent demographics, and major new developments that will drive customer traffic directly to the town centre,” he says. “This asset is perfectly positioned to capture the benefits of the region’s rapid expansion.”

IGA Kyneton is being offered for sale via an EOI campaign closing at 4pm (AEDT) on 15 October 2026.