Australian retailer Bunnings has inked a $180 million deal to sell four of its newly built store properties on either side of the Tasman.

Bunnings’ Auckland New Lynn store, two Sydney locations and one in Adelaide were sold to CBRE Global Investors this week.

The Bunnings hardware chain is owned by Australian company Wesfarmers, and has about 3000 staff in New Zealand.

Bunnings general manager property Andrew Marks said: “We are seeing significant demand from across the whole spectrum of the property market both locally and internationally for Bunnings assets, driven by the quality of our sites, the performance of our business and the strength of the Bunnings covenant.”

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SUPPLIED

Bunnings store in Grey Lynn was sold earlier this year for $37m.

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