Newmark Brandon Park Core Plus Fund
Corner of Springvale Road & Ferntree Gully Road, Mulgrave VIC 3150
Brandon Park is a sub-regional shopping Centre anchored by Coles and Aldi and located 24 km southeast of the Melbourne CBD, in an area experiencing significant demographic growth.
Newmark acquired the Centre in 2018 with an aim to generating sustainable income and unlocking potential capital growth by repositioning the retail offering through the reconfiguration of the food court to a fresh food precinct and the development of a large format retail precinct on the lower ground level of the Centre.
Newmark has additionally identified an opportunity to divest two parcels of the site which provide for a higher use, with planning and subdivision currently underway.
|Investment Objective||Generate sustainable income and to unlock potential capital growth|
|Property Type||Sub-Regional Shopping Centre|
|Location||Wheelers Hill, Victoria|
|Anchor Tenants||Coles, Kmart, Aldi|
|Occupancy||89% by income (August 2023)|