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 |
| Anchor Tenant: | Coles, Harvey Norman |
| Sale Price: | $29,250,000 |
| Yield: | 6.4% |
| Investor IRR: | 34% p.a |
| Equity Multiple: | 1.5x |
| Site Purchased: | February 2015 |
| Sale Date: | July, 2016 |
| Builder: | Mainbrace Constructions |
| Architect: | BDA |
| Bank: | Commonwealth Bank |
