
Purchased 2022 During his tenure as Managing Director and partner at Ganellen Asset Management, Richard Manning alongside his team, played a key role in sourcing, negotiating raising the equity for and leading his team through the due diligence process to acquire this investment asset and establishing its second wholesale fund.
Marketplace Deagon is a neighbourhood shopping centre with an exceptional tenant retention history of over 87% (by GLA) since 2011.
Over 75% of the gross income is underpinned by 1 major and 5 mini-major tenants. Essential Service groups lease 4 of the 5 mini majors; Guppy's Early Learning Centre, Rackley's Swim School, Club Lime (gym) & Good Price Pharmacy.
The centre is anchored on a long Lease to Fresh & Save, a fast growing supermarket operator with 6 locations and a true low cost high quality point of difference. Also offering a strong mix of non-discretionary and essential services specialties including BWS, Subway and Pizza Capers.
The centre is positioned on a 1.4ha site just 15km north of the Brisbane CBD. It is the only outbound neighbourhood shopping centre on Sandgate Road, and is exposed to over 36,000 vehicles daily.
The Ganellen Asset Plan
- Lease up the vacant tenancies, re-mix the specialty tenants Including introducing key missing food and service tenant uses.
- Improved income: through the introduction of new GLA and subdivision of shops to accommodate a better mix and utilise common area.
- Improved operational management.
Fresh & Save & Rackley's Swim School
Anchor Tenant16
Specialty Tenants6,005sqm
Net Lettable Area225
Parking Spaces