• Purchased 2016
• IRR 40%
In 2016 the neighbourhood centre that sits above and beside the Kogarah train station was purchased. In 2017 the acquisition of the neighbouring service station and commercial site completed the strategy of turning the site into a future development play by creating a total island plot.
The train station location provides for an excellent tenancy mix that extrapolates into strong returns that also support the long term Master plan play
Sydney metropolitan location, only 20 kilometres south of CBD evolving suburb, underpinned by infrastructure of Public + Private Hospitals and 9 Schools. Large trade area of 62,450 people and a thriving industry which attracts 160,000 customers per week through the pay stations (TFNSW). With strong growth prospects underpinned by increasing density.
A modern thriving shopping centre, which uniquely links directly into the Kogarah Railway Station (with circa 8.3m commuters pa), one of the busiest in Sydney metro. Located in the heart of the rapidly improving Kogarah CBD.
Anchored by Woolworths and ALDI supermarkets, together with 23 predominantly; food and retail service specialities including Medical.
Ganellen Asset Plan:
- Re-Mix the specialty tenants: Including introducing national and medical tenants to replace discretionary uses
- Improved income: through the introduction of new GLA and improved operational management
- Mixed use master planning: Working with key stakeholders and consultants for progressing the future development of the Kogarah Town Centre. Proposed to include a fully transformed retail community offer and multiple high density residential and commercial buildings above.