Rockingham Superstore
Rockingham Superstore was purchased in 2014. The trust was formed with the single intention of acquiring and improving one substantial asset, providing secure and diversified income and potential capital growth.
3 Enterprise Way, Rockingham, Western Australia
The Property
This large-format retail centre occupies a substantial corner site fronting both Enterprise Way and Merchant Drive, located within Rockingham’s established bulky goods retail precinct. The property features modern improvements housing quality national tenants including Harley Davidson, Fantastic Furniture, and BCF. The centre benefits from a strong catchment area with the City of Rockingham’s population which has demonstrated consistent growth supporting retail demand.
The Investment Opportunity
Sullivan Property Consultants established this syndicate as a single property unit trust with active management and direct co-investment. Key features of this investment include:
- Long-term hold strategy – Originally structured as a long-term property investment, the syndicate has been further extended beyond its initial term by unitholders’ agreement, reflecting the asset’s ongoing performance.
- Value-add approach – This was an opportunistic acquisition with inherent risk, but also significant potential for rental growth and capital appreciation through active asset management. Development and extension plans have been finalised with Fantastic Furniture, with plans to further develop the property to increase value and income earning potential.
- Strong performance – Cash distribution returns have exceeded initial estimates of 10% per annum throughout the investment period.
Sullivan Property Consultants and related entities maintain an equity position in this syndicate alongside all investors and are invested in providing consistently strong performance of the asset.
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