Newmark Tooronga Property Trust
766 Toorak Road, Glen Iris VIC 3146
Acquired in 2019 and located on a prominent corner in the affluent Melbourne suburb of Glen Iris, Tooronga Village is a retail shopping Centre anchored by Coles and several other national retailers.
Since acquisition, Newmark has solidified the Centre’s income through the reconfiguration of the tenancy mix, creating several modern tenancies which complement the convenience retail and fresh food offering.
As a result, the Centre continues to offer strong and stable income, underpinned by its offering and significant market share within the catchment. Investors in the Trust have benefited from this through quarterly income returns, a capital return on disposition of the non-core podium lots and an increase in the value of the Property since acquisition.
|Investment Objective||Sustainable distributions, preserve capital and provide tax-deferred benefits|
|Property Type||Convenience Retail|
|Location||Glen Iris, Victoria|
|Site Area (Strata Title)||18,430m2|
|Anchor Tenants||Coles Supermarket, First Choice Liquor Market, 26 specialties|
|Occupancy||96% (August 2023)|