Warners Bay Village

Purchased 2013 During his tenure as Managing Director and partner at Ganellen Property, Richard Manning played a key role in sourcing and leading his team through the due diligence process to acquire and then manage through its re-positioning and ultimate disposal for this asset which sold 2014
• IRR 48.23%

Warners Bay is an established premium residential suburb located on the northern shores of Lake Macquarie approximately 12kms south west of Newcastle CBD and 110kms north of Sydney. Anchored by a high preforming full line Coles supermarket.

The Ganellen Asset Plan:
- Delivered a modern refurbishment to the major tenant Coles, including the introduction of their liquor branch and Lease renewal.
- Replaced poor performing tenants with strong covenants. Including the introduction of a new Coles Liquorland.
- Significantly reduced outgoings expenditure
- Combated the introduction of a competing supermarket (Woolworths) from entering the catchment.