Region pays $53m for homemaker centre
EXCLUSIVE
Royal Oak Capital has sold a year old homemaker centre north east of Bunbury.
The Treendale Home & Lifestyle Centre at Australind curried favour with Region Group following a campaign launched November.
The ASX-listed investment house also owns the neighbouring Treendale Shopping Centre.
On 2.82 hectares with 7300 square metres, that complex is anchored to Woolworths, with two mini-majors, tenanted to Best & Less and The Reject Shop, and 17 specialty stores. There are also 214 car parks.
The latest asset spreads 3.25ha with 11,732 sqm in four single storey buildings.
The island-style site, as it was promoted, also contains 310 car parks.
Region doubles down in Australind
Treendale Home & Lifestyle Centre concludes Royal Oak’s first greenfield development trust; it paid $11.4m in 2023 for the District Centre zoned land (continues below).
Colliers’ Richard Cash and James Wilson with Stonebridge Property Group’s Philip Gartland and Justin Dowers were the agents.
“Beyond the financial result, we are particularly proud of the asset itself – a centre that has meaningfully transformed the Australind and Treendale precincts, created jobs, strengthened local infrastructure and delivered a hybrid tenancy mix of [traditional] retail, large format retail, food and beverage and health & wellness amenities,” a Royal Oak spokesperson said.
“At Royal Oak Capital, our objective has always been clear…we leverage our experience and networks within the commercial property sector to provide investment opportunities that are not readily available,” they added.
The property and Treendale Shopping Centre are opposite a Bunnings, owned by the BWP Trust.
Australind is 148 kilometres south of Perth’s CBD.
It is 14km from Bunbury.
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