Project value: $20 million
The Margaret River Retail Fund acquired the Margaret River Shopping Centre in early 2015.
The Centre was built in 2013 and anchored by a full-line Woolworths supermarket plus 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 in 2019 for $20m to Perdaman Capital, representing a passing exit yield of approximately 7.2%.