Large Format Retail | Value-Add
Single Asset Syndicate
HomeCentre Bathurst is a 5.2ha property comprising a single level, warehouse style retail centre with a total GLA of 16,001sqm across 3 buildings, tenanted by leading national large format retailers.
The property is the largest single holding LFR centre in the market.
#TheKaiparaAdvantage: Kaipara acquired the asset off-market with Argus Property and is undertaking a proactive asset management and ‘hands on’ leasing strategy to drive net income uplift, tenancy mix optimisation and WALE extension.
Achievements:
- Occupancy increased to 100%
- Harvey Norman renewed for 5 years and downsized to accommodate additional tenants
- 3 new tenants signed on long leases
- WALE extended significantly
- DA lodged to re-configure for new tenants
- Stage 2 expansion on surplus land – leasing underway