Project value: $20 million
The Margaret River Fund acquired the Margaret River Shopping Centre in early 2015.
The Centre was built in 2013 is anchored by a full-line Woolworths supermarket and includes 14 specialty stores and under cover parking for over 200 cars.
Sirona successfully repositioned the Centre by leasing a number of tenancies to locally based retailers, introducing new food and beverage outlets and engaging with the local community and supporting them on a range of initiatives.
The centre was sold for $20m, representing a passing yield of approximately 7.2%, to an investment syndicate established by Perdaman Capital.