Bond family buy Perth homemaker centre
Banjo Bond, the son of Primewest founder John and grandson of the late Alan, has snared a Midland homemaker centre for $74.8 million.
HomeCo Midland, formerly the Midland Super Centre, is earmarked for a trust now seeking wholesale investors targeting an eight per cent annual return.
On 4.264 hectares on the south west corner of Clayton and Lloyd streets, the asset contains 23,410 square metres in 21 tenancies; Baby Bunting, Officeworks and The Good Guys are amongst the tenants.
Mr Bond established an property company, PWD, with Rob Thomas five years ago.
With John on the board, it recently completed a South Strathfield strata industrial investment and, in partnership with Mathieson Property, a healthcare asset, at Camperdown, also in Sydney.
The company targets assets where it can value-add too (story continues below).
JLL’s Sam Hatcher and Nick Willis brokered the off-market Midland deal.
The asset was held by the Home Co Daily Needs REIT; the result is inline with manager HMC Capital’s book value.
The suburb is about 18 kilometres from the CBD.
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