Treendale Home & Lifestyle has been sold to REIT Region Group for $53 million.
Located in WA, the institutional-grade hybrid retail centre comprises 11,816sqm of gross lettable area across four buildings on a 32,502sqm island site, supported by 310 car bays.
The centre is anchored by a mix of large-format retailers, including Revo Fitness, Petstock, SportsPower, The Furniture Gallery, Red Dot Home, Furniture Bazaar and Hip Pocket Workwear & Safety, complemented by additional large-format and specialty tenants.
Treendale Home & Lifestyle benefits from six points of access, shared parking with the neighbouring Woolworths centre, and a prime location opposite Bunnings.
Alex Gismondi, CEO and founder of Royal Oak Capital, said the decision to bring the asset to market was driven by a strategy to maximise capital realisation.
“This approach leveraged prevailing economic conditions, the interest rate cycle and pre-year-end deployment urgency, ultimately delivering an exceptional outcome for the investor group,” he said.
The transaction was managed on behalf of Royal Oak Capital by Richard Cash and James Wilson of Colliers, working alongside Philip Gartland and Justin Dowers from Stonebridge Property Group.
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