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