Vukelic Group sells Australind assets

The Village, Australind Shopping Centre, and the adjacent Mardo Commercial Centre have been acquired by Acure Asset Management for $39.43 million from private property company the Vukelic Group, representing a yield of 8.3 per cent.

Acure will hold the assets in its recently formed Australind Trust.

The sale of the retail and commercial centre, which have anchor tenancies to Coles, Aldi and Chemmart, was negotiated by Colliers International director retail investment services Ben Tana.

“With three anchor tenancies providing 67 per cent of the net income and 30 specialty shops complementing the offering, The Village and Mardo Commercial Centre represented a compelling retail investment,” Mr Tana said.

“The properties have a weighted average lease expiry by area of 10.3 years and occupy a combined 3.5-hectare site, which has future redevelopment potential on one of the South West’s best-known waterfronts.”

The three-building, 1,597sqm Mardo Commercial Centre and the 7,724sqm Village are 90 per cent leased.

A recent renovation at the properties, on the corner of Mardo Avenue and Old Coast Road, created a new free-standing retail premises for Aldi.