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Furnissdale Property Trust
The Large Format Retail sector continues to benefit from strong consumer demand driven by population growth, decentralisation trends, and the expansion of regional service centres. Strategically located retail hubs are well-positioned to capitalise on this demand, particularly in growth corridors supported by infrastructure investment and flexible planning frameworks.
Vesta is pleased to present the investment opportunity to participate in the Furnissdale Development Trust to acquire 578–590 Pinjarra Road, Furnissdale and develop brand new mixed use Large Format Retail hub. Key investment features:
- Initial Capital Raise: We are raising an initial $5,000,000 to acquire the land and secure a revised development approval that suits the tenants we're bringing on board.
- Land Acquisition: The 6.2-hectare site is being acquired for $4,100,000 (inc. GST), which works out to be a competitive rate of only around $66/m2.
- Tenant Status: We already have good early momentum. A Heads of Agreement is in place with Total Tools, and we have a formal offer to lease from a Fuel operator. Our leasing agent is also working with other major retailers.
- Projected Returns: The projected NTA value is $1.91 per unit when Stage 1 is completed and fully leased (target date June 2027). Investors in this first stage are projected to receive an 8.00% p.a. distribution from rental income.
- Fund Term & Liquidity: The proposed fund term is four years, with several opportunities for liquidity anticipated as the project hits key milestones.
The Fund will acquire the project land to generate investment returns through the acquisition and development of the Property, located at 578-590 Pinjarra Road. Value will be added via the staged development of 6.21 hectares of land into a future mixed-use Large Format Retail hub.
Please enquire now to ensure you recieve a copy of the Information Memorandum (IM).