News and Announcements
Sirona Capital to Purchase Major South West Retail Centre
- Published March 04, 2015 2:47PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
4 March 2015
Sirona Capital has successfully closed its investment fund for the purchase of a major retail facility in Western Australia’s South West. This marks Sirona Capital’s 7th real estate fund, which has been backed by strong interest from professional and sophisticated investors resulting in oversubscriptions to the Fund.
The fund was established by Sirona Capital to buy the Margaret River Shopping Centre, located on the corner of Town View Terrace and Willmott Avenue in Margaret River’s CBD. The Centre is anchored by a full-line Woolworths supermarket with a 20-year tenancy, BWS Liquor store and 16 specialty tenancies.
Sirona Capital managing director Matthew McNeilly said the Centre sits within a large primary catchment area with above average population and retail trade area growth forecasts.
“Our research told us that this was a primary catchment area with retail trade growth potential and our investors have clearly seen the opportunity this strategic investment holds, with the fund now closing oversubscribed. And we particularly like the local economic drivers including expected increased investment in the agriculture sector and tourism numbers likely to swell due to a weaker Australian dollar” Mr McNeilly said.
“We see this property as a significant value-add opportunity that will allow Sirona to implement a comprehensive leasing strategy to ensure this brand new centre delivers superior returns for our investors.
“It delivers Sirona with a strong strategic market position as the owner of the only integrated supermarket and specialties centre in the Margaret River township, incorporating all-weather undercover parking, and which provides a superior retail experience for visitors and residents in Western Australia’s world-renowned tourism centre.”
Mr McNeilly said Margaret River was a strategic move by Sirona Capital to further establish the company’s portfolio of high quality, strong return retail properties with long-term anchor tenants and which expanded its geographic reach and investment profile in the retail and property sectors.