Latest news with #SamHatcher
Courier-Mail
18-07-2025
- Business
- Courier-Mail
Richlisters' $400m 18-month buy-out as iconic surf spot snapped up
One of the hottest surf spots in the country is set for a shake-up amid a $400m buy-up in the last 18 months backed by richlisters. Hugely popular beach site The Strand Coolangatta – located opposite the world-renowned surf spots Snapper Rocks and Kirra – is the latest of four deals totalling $400m signed off by investment fund manager Alceon, which invests a whopping $5.3 billion on behalf of richlisters and family firms in Australia. MORE: Shock twist for Aus dad with $740k fine 'Super creepy': Mysterious Aus 'old haunted house' for sale MORE: Govt pays $3.3m for unliveable derelict house Cash-strap student turns $40k to 38 homes It partnered with Aktiv – their second pairing – on the Coolangatta buy-up to the tune of $142m. The pair have plans to put in a major upgrade to the Gold Coast beach front shopping centre to keep pace with the rapidly luxurious nature of real estate and residents across the area. The Strand is currently a 30,000sq m mixed-use and lifestyle space with over 200 metres of uninterrupted beach frontage, anchored by Woolworths, Cinebar and Timezone with 20 office tenants and 63 specialty shops drawing both tourists and locals alike. Alceon also picked up the Smithfield Shopping Centre in regional QLD, 40 Tank Street in Brisbane's CBD, and the Mount Gravatt-based ATO building in the last 18 months in its bid to capitalise on Queensland's robust population and housing price growth. MORE: NRLW's youngest captain defies odds Origin star Reece Walsh's staggering windfall The deal brokered by JLL is expected to be completed in August, with JLL head of national retail investments Sam Hatcher saying 'for the first time, FY25 data indicates that Institutional Capital, Syndicates, and private investors each hold approximately 33 per cent of the transaction market share'. 'The sale of The Strand exemplifies the trend of syndicators acquiring well-located shopping centres with strong distribution potential and value-add opportunities, though such properties are becoming scarce as competition intensifies across retail sub-sectors.' Alceon's Queensland founding partner Todd Pepper was 'pleased to have picked up another prime asset on behalf of family office and high-net-worth investors for our Queensland real estate equity portfolio'. MORE: $74,800 rise: Aus capital leading home price spike Mapped: Owners of Aus' trashed islands named The firm targets properties with high-quality, stable tenants, and locations with significant foot traffic. 'Queensland in particular offers a highly attractive investment setting for us due to its efficient government and regulatory processes and strong growth prospects,' he said. 'The state has experienced robust population and housing price growth led by a constant period of positive migration' which he said would be supplemented by the upcoming 2032 Brisbane Olympics. Aktiv managing director Olivier Sicouri said The Strand in Coolangatta was a unique property in an iconic location. 'It presents a rare opportunity to acquire an asset of this scale well below replacement cost in a location like this, particularly given that it is expected to grow and gentrify and faces limited competition risk, due to prohibitively high construction costs.' MORE REAL ESTATE NEWS
News.com.au
06-05-2025
- Business
- News.com.au
Charter Hall swoops on major Geelong shopping centre in $146m off-market deal
Major Australian shopping centre investor Charter Hall has expanded its reach in the Geelong market with a $146m off-market purchase of Corio Village shopping centre. Charter Hall secured the 33,600sq m Geelong northern suburbs mall in a transaction managed by Nick Willis and Sam Hatcher for JLL. The centre is anchored by Coles, Kmart and Woolworths and about 75 other tenants, and boasts a high performance recording around $200 million in annual turnover. Aldi anchored shopping centre snares big sale price The sale demonstrates continued investor confidence in subregional shopping centres, driven by their essential role within communities and robust tenant mix. The sale follows a $20.58m transaction of the Aldi-anchored neighbourhood centre, Bell Park Plaza. Founder and CEO of IP Generation Chris Lock said the sale of Corio Village marks the end of a six-year comprehensive asset improvement strategy, which saw $45m added to the value of the centre after that time. 'Through targeted repositioning works, we have successfully transformed the centre into a core convenience hub for the community, while delivering strong outcomes for our investors. 'We remain focused on the retail sector and continue to seek opportunities.' As part of the transformation, IP Generation reopened the centre's basement, which originally featured a ten-pin bowling alley, with General Public opening an entertainment hub including 11 ten-pin bowling lanes, pool tables, an electronic darts board and other arcade games, as well as food and craft beer, while US gym franchise Planet Fitness also opened its first local location at Corio Village. IP Generation bought Corio Village from Vicinity Centres for $101m in 2019. Charter Hall was attracted by the centre's strong returns and significant growth prospects. Charter Hall Retail chief executive officer Ben Ellis said the Corio acquisition continues the successful growth of its convenience partnership acquisitions. 'We pursued Corio for its anchor supermarket convenience attributes, which reflected a 7 per cent cap rate,' he said. 'Combined with forecast income growth, it's expected to deliver accretive returns for the partnership.' Charter Hall managing director David Harrison said the business has always had high conviction on convenience retail, and see it continuing to outperform discretionary retail larger malls. 'We know these catchments well, having also acquired Leopold south of Geelong, along with the very successful development of a Woolworths, Bunnings and Officeworks anchored shopping centre at North Altona in the southwest of Melbourne metropolitan area,' Mr Harrison said. 'The fact that most convenience centres can be acquired at deep discounts to replacement cost is a core value metric we focus on within our selective acquisition program.' JLL senior director Nick Willis said access to high-quality sub-regionals is becoming increasingly constrained amid a global resurgence in capital demand for the sector. 'This transaction provides evidence of the shifting buyer profile away from the manager or syndicator groups who have led the acquisitions charge over the last five years, to now increased participation from institutions and REITs as they shift back to net acquirers.'
