This article is from the Australian Property Journal archive
AVENTUS Retail Property Fund has acquired a 55,840sqm development site in Tuggerah, New South Wales for $3.75 million.
The site is opposite its Tuggerah Super Centre asset and increases its landholding in Tuggerah to a total of 127,410sqm.
It has just completed an upgrade of the Super Centre, which is anchored by Bunnings, The Good Guys and Fantastic Furniture.
Aventus also announced a $63 million uplift in the value of its portfolio as at 30 June, reflecting a 9.34% increase from 31 December 2015, following the revaluation of 11 of its properties, or 59% of its assets.
The latest gains increase the value of the portfolio to $1.269 billion, with 20 centres nationally.
The weighted average capitalisation rate for the portfolio tightened to 7.52%, with 47 basis-point tightening for the 11 revalued properties.
Australian Property Journal
