This largely vacant shopping centre was purchased in December 2010 with the intention of using intensive asset management to reposition the asset over the short to medium term. Whilst not without challenges, we successfully increased the occupancy rate of the centre including providing increased amenity with the inclusion of a pharmacy and cafe into the tenancy mix. The property was sold in December 2014.
This aging refrigerated transport depot was located in the heart of the Kewdale industrial area and when purchased was nearing the end of its useful life. Having only a short term lease in place, the site was essentially purchased for land value in May 2009. Whilst a good return was enjoyed during the term, a decision by the tenant to have a new, purpose built facility constructed for them lead the syndicate members to sell the property in April 2013.
This property comprised a warehouse leased to Toll Ipec in the eastern industrial suburb of Forrestfield. The lease had three years to run at the time of purchase but a decision was made by the tenant to vacate the property some 18 months after our purchase, leading to a decision by the syndicate members to offer the property for sale or lease. The property was sold in September 2011.