Wodonga Plaza Trust

Wodonga Plaza Shopping Centre
55 Elgin Boulevard, Wodonga VIC

Property Description

The Centre comprises a single level, 17,020sqm sub-regional shopping centre, situated prominently on a 4.3ha site, along with 606 car parking bays (part covered). The Centre was constructed in 1979, and has undergone various refurbishments and extensions, the most recent in 2018 which upgraded the food-court and internal tenancies. The Centre is anchored by a Target Discount Department Store and Coles Supermarket as well as a Chemist Warehouse, Cotton-On Mega, Best & Less and Reject Shop – together with 41 speciality retail tenants.

Investment Rationale

In 2021, Argus Partners Managed Investments Limited assumed the role of Investment Manager and Trustee, taking over from the existing Trustee and completing a recapitalisation of the Trust, via the raising of $11.012 million of fresh equity and the refinancing of the Trust’s debt facility. In assuming the role as Trustee and Investment Manager, Argus will implement a new asset management strategy to re-position Wodonga Plaza as the primary retail centre in Wodonga, a major regional centre located in northern Victoria.

Key Fund Stats

Fund StatusFund Open
Acquisition Price$41.5m (May 2021)
New Equity Raised$11.012m
Current Distribution Yield (% p.a.) 8.25% p.a. (paid quarterly)
Key Tenants Coles, Target, Best & Less and Reject Shop