{"id":3925,"date":"2023-10-31T11:08:00","date_gmt":"2023-10-31T01:08:00","guid":{"rendered":"https:\/\/www.thejygroup.com\/?p=3925"},"modified":"2025-10-09T15:06:26","modified_gmt":"2025-10-09T05:06:26","slug":"jy-group-boosts-australian-shopping-centre-portfolio-to-over-2bn-with-major-acquisition","status":"publish","type":"post","link":"https:\/\/www.thejygroup.com\/zh\/news\/jy-group-boosts-australian-shopping-centre-portfolio-to-over-2bn-with-major-acquisition\/","title":{"rendered":"JY Group boosts Australian shopping centre portfolio to over $2bn with major acquisition"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"3925\" class=\"elementor elementor-3925\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-20cda082 e-flex e-con-boxed e-con e-parent\" data-id=\"20cda082\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c10603c elementor-widget elementor-widget-text-editor\" data-id=\"4c10603c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<p>The purchase lifts the value of JY Group\u2019s Australian shopping centre assets to more than $2.8 billion following the acquisition of Melbourne\u2019s\u00a0Roxburgh Village\u00a0which settled earlier this year and the recent acquisition of a 50% stake in Perth\u2019s Westfield Whitford City.<\/p>\n\n<p>CBRE\u2019s Head of Retail Capital Markets \u2013 Pacific, Simon Rooney was exclusively appointed to steer the on-market sale process on behalf of ISPT.<\/p>\n\n<p>Co-owned and managed by Vicinity Centres, the strong performing sub-regional centre is located 29km north-east of the CBD on Sydney\u2019s affluent Northern Beaches.<\/p>\n<p><em>Simon Rooney noted, \u201cThis strong transaction result reinforces increasing investor demand and liquidity for well-located, high quality metropolitan sub-regional assets demonstrating outstanding trading performance, underpinned by exceptional investment fundamentals and a secure tenancy profile such as that offered at Warriewood Square.\u201d<\/em><\/p>\n\n<p>\u201cThe Warriewood transaction completes approximately $1.3 billion in partial 50% stakes changing hands since June 2024, including\u00a0Westfield West Lakes,\u00a0SA ($174.75 million \u2013 50%),\u00a0Westfield Tea Tree,\u00a0SA ($308 million \u2013 50%),\u00a0Claremont Quarter,\u00a0WA ($207 million \u2013 50%),\u00a0Lakeside Joondalup, WA ($420 million \u2013 50%) and\u00a0Westfield Whitford City,\u00a0WA ($195 million \u2013 50%),\u201d said Rooney.<\/p>\n\n<p>Rooney said the ISPT offering had attracted competitive interest, primarily from private based capital, given the centre\u2019s prime metropolitan Sydney location, recent capital investment works of $85 million completed in 2016 together with the robust performance of the major tenants.<\/p>\n\n<p>Woolworths, Coles, ALDI and Kmart provide a leading major tenant WALE by income of 11.1 years with combined annual sales in excess of $135 million.<\/p>\n\n<p>There are four mini majors, including Rebel, Cotton On Mega and JB Hi-Fi, alongside 97 specialty stores and kiosks.<\/p>\n\n<p>The centre benefits from being the dominant retail destination within an established and affluent trade area of 177,918 residents, with primary trade area retail spending per capita 33% above Greater Sydney average.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>The Hong Kong based JY Group has expanded its Australian shopping centre portfolio with the $123 million acquisition of Melbourne\u2019s Roxburgh Village.<\/p>","protected":false},"author":3,"featured_media":3926,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[8],"tags":[29],"class_list":["post-3925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cbre"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/posts\/3925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/comments?post=3925"}],"version-history":[{"count":0,"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/posts\/3925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/media\/3926"}],"wp:attachment":[{"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/media?parent=3925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/categories?post=3925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thejygroup.com\/zh\/wp-json\/wp\/v2\/tags?post=3925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}