Muswellbrook Fair

Tipalea acquired this asset from the receivers in early 2015 for $19.2m and undertook a two stage redevelopment program that spanned 18 months.

The shopping centre is anchored by a Coles Supermarket and a Harvey Norman with other national retail tenants including Best & Less, The Reject Shop, Liquorland, Subway, Dominos and Bakers Delight.

Tipalea Partners sold Muswellbrook Fair Shopping Centre in July 2016 to ASX listed SCA Property Group for $29.25 million, reflecting a passing yield of 6.4 %.

Project Statistics

Address: 19- 29 Rutherford Road, Muswellbrook, NSW 2333
Net Lettable Area: 8,993 sqm
Anchor Tenant: Coles, Harvey Norman
Sale Price: $29,250,000
Yield: 6.40%
Investor IRR: 34% p.a
Equity Multiple: 1.5x
Site Purchased: February 2015
Centre Opened: N/A
Sale Date: July, 2016
Builder: Mainbrace Constructions
Architect: BDA
Bank: Commonwealth Bank