• Purchased 2014
• Sold Price 2019
• IRR 74.11%
Ganellen undertook a major expansion following our identification of missing retail uses and a desire to future proof the asset for an expansion to the Coles Supermarket.
The Centre at acquisition included 8 specialty independent retail uses with 2 vacancies. Through our active management it now has 18 tenants, including a 155 place childcare centre, large Any Time Fitness Gym, Dominos Pizza and a Medical offer.
- Replaced poor performing and presenting tenants with new national and food / service non-discretionary uses.
- Leased vacancies
- Delivered expansion to the current centre adding over 2,400sqm of GLA, and a Development Approval for 3 x high density residential buildings over the on graded car park, significantly exceeding the permissible height.