Griffith Investment Fund
HomeCentre Griffith
Corner of Watkins Ave and Kidman Way, Griffith NSW
The Property is comprised of 3 single level warehouse-style retail and entertainment buildings (19,100sqm), anchored by a large (8,700sqm) Bunnings store, along with Spotlight, Fantastic Furniture, Sydney Tools, Pets Domain and Repco. The entertainment areas are occupied by Griffith City Cinemas and Star Bowling.
The freehold land comprises a large site with an area of 6.42ha and includes a large pad site occupied by McDonald’s.
The property is 98% occupied.
In recent years, the trading resilience of large format retail centres has become well recognised. As a result, investor interest in the sector has continued to grow, underpinned by the presence of established national retailers providing strong lease covenants, relatively long lease expiry profiles and comparatively low rents. The Investment Manager believes the sector will continue to perform well and considers that the acquisition of the Property represents an attractive opportunity for Investors to gain exposure to this asset class.
| Fund Status | Current |
| Acquisition Price | $28.33m (December 2022) |
| Equity Raised | $16.77m (partly paid to $0.90 per unit) |
| Current Distribution Yield (% p.a.) | |
| Key Tenants | Bunnings, Spotlight, Fantastic Furniture, Sydney Tools |
