IP Generation

Since acquisition in April 2024, IP Generation has significantly progressed its repositioning strategy for Nunawading’s former BrandSmart Outlet Centre. Anchor tenant Tesla Motors Australia has been secured on a 12-year lease for ~50% of the property’s net lettable area, while national fitness chain Revo Fitness and Australian mattress and sleep solutions company Ecosa have since signed for ~2,500sqm and ~2,000 sqm respectively. The property is now 98% leased with a current forecast WALE of 11.3 years (area) ahead of construction works commencing in November 2024.    You can read more about the changes happening in the Australian Property Journal article linked below.   We look forward to sharing more updates as the redevelopment progresses with the property expected to be handed over to the new tenants in 2025.

IP Generation is pleased to announce its latest acquisition, Glendale Town Centre, located in Newcastle, NSW. Purchased from Stockland, the transaction marks IP Generation’s largest individual shopping centre acquisition to date, growing its assets under management to over $1.8 billion. Anchored by Woolworths, Coles, Target, Kmart and Event Cinemas, the centre seamlessly blends retail, home, leisure, and entertainment across an expansive 19-hectare site, the fourth largest retail landholding in NSW.

IP Generation was recently featured in last week’s issue of The Australian. The article, reported by Commercial Property Editor Ben Wilmot, highlights IP Generation’s recent transactions in the retail market including Brand Smart, Nunawading and Richmond Mall.

IP Generation is pleased to announce the sale of Richmond Mall Shopping Centre (NSW) for $35.0 million, an excellent result for investors in the IPG NSW Essential Retail Trust.   Significant value has been added to the asset during IP Generation’s ownership through the completion of a strategic leasing program and investment in aesthetic upgrades.

IP Generation is pleased to announce its most recent acquisition, 288 Whitehorse Road, Nunawading (Brand Smart Outlet Centre). Brand Smart is situated in one of Melbourne’s premier large format retail precincts, 18km east of the Melbourne CBD, comprising of a 2.58ha site with on grade parking for over 450 cars. Tenants include a range of local and international retail brands such as Sheridan, Adairs, Oroton and Bed Bath N’ Table.

IP Generation’s Head of Funds Management, Andrew Coutts will be speaking at the Malls of the Future Summit, taking place on the 6th of March 2024, in Sydney and virtually.   Andrew will be providing key insight as part of the Fund Managers Panel, discussing the evolution of ownership and investment in the Australian Shopping Centre Market.   For more information, please head to https://lnkd.in/gNikvpUR #mallsofthefuture