The Australasian real estate funds manager secured the single level shopping centre for $15M.
Situated at 132 Bussell Highway in the heart of the Margaret River, the shopping centre is anchored by a Coles Supermarket and Liquorland, and three complementing specialty shop, including Brumby’s bakery, Bob’s Shoe Store and Glitterati.
The asset is 100 per cent occupied and provides a 2.8-year Weighted Average Lease Expiry (WALE)5, enabling Centuria to draw on its strong in house asset management and leasing capabilities to execute value-add strategies.
Jason Huljich, Centuria Joint CEO, said, “This acquisition exemplifies how we are executing our corporate strategy to secure value-add opportunities to match specific profiles within our broad unlisted investor network. We are adopting a disciplined approach to our real estate transactions and are excited to offer this opportunity to our HNW investor base.”
