Royal Oak Capital has completed the sale of the Treendale Home & Lifestyle Centre in Australind, Western Australia, to ASX-listed Region Group for $53 million.
The centre comprises 11,816 square metres of gross lettable area across four buildings on a 32,502 square metre island site with 310 car bays, anchored by a line-up of national large-format retailers including Revo Fitness, Petstock, SportsPower, The Furniture Gallery, Red Dot Home, Furniture Bazaar and Hip Pocket Workwear & Safety. The site enjoys six access points, shared parking with the neighbouring Woolworths and a position directly opposite Bunnings.
The sale was negotiated by Richard Cash and James Wilson of Colliers together with Philip Gartland and Justin Dowers of Stonebridge Property Group.
Treendale was developed and realised through The Royal Oak LFR Unit Trust 1, which returned a realised ROE of 45.87% over the life of the investment and an investor IRR of 18.04% p.a. Past performance is not indicative of future performance.
The divestment reflects the discipline at the centre of the Royal Oak model: develop and stabilise a premium asset, crystallise the outcome at the right point in the cycle, and recycle capital into the next wave of opportunities — rather than holding in perpetuity.
“This divestment is consistent with our core strategy of developing and stabilising premium assets, allowing us to focus on redeployment of capital into our next wave of development opportunities.”
— Alex Gismondi, Founder & Chief Executive Officer