The property comprises a well positioned retail complex anchored by the only cinema complex in Albury/Wodonga which has a growing population of over 100,000 people. There are five specialty retailers which provides a diversified cash flow anda 7.1 year WALE (as at 31 December).
Investment Strategy: Very well maintained by a former institutional owner with minimal capex spend forecast. The asset strategy will be to grow rents as current leases expire. We will then hold the asset for a period of 6 to 8 years by which time all the competing releasing and renewals should be completed.
Purchase Price / Date
$18.5m / June 2022
Estimated IRR to Date
10.6% per annum
