Argus Morayfield Fund
HomeCentre Morayfield
321-343 Morayfield Road,
Morayfield QLD, 4506
Originally developed as a Masters hardware store, the 11,216sqm Property comprises a single level, warehouse style retail centre with a car-park of 320 customer parking bays.
HomeCentre Morayfield is anchored by a large Amart Furniture store, along with Nick Scali, Sydney Tools, SuperCheap Auto, Salvos and Pillow Talk. The Property is currently 100% occupied.
Following the COVID-19 pandemic there has been a growing appreciation of the attractive characteristics of large format retail centres – including reliable income stream, strong national tenants and expansion land. This, together with the strong growth profile of the Caboolture-Morayfield area, were the key drivers behind the acquisition of the HomeCentre Morayfield.
The Property has generated additional income through leasing of all vacant space since acquisition (circa 1,000sqm). Argus has also created an additional 870sqm of lettable area through the reconfiguration of the Centre (completed in 2023).
| Fund Status | Current |
| Acquisition Price | $28.85m (May 2021) |
| Equity Raised | $15.75m |
| Average Cash Yield | 8.35% p.a. (forecast) |
| Investor Internal Rate of Return | 10.0% p.a. (forecast) |
| Key Tenants | Amart Furniture, Nick Scali, Sydney Tools, Salvos, SuperCheap Auto. |
