MPG doubles down in Dubbo
MPG Funds Management has snapped up another piece of the Dubbo Homemaker Centre.
The 850 square metre showroom at 4 Hawthorn Street, completed last month and leased for 12 years to RESA, will be slotted into the group’s Essential Services Trust.
Worth a speculated $4.08 million, the deal comes 16 months since the Melbourne fund manager outlaid $13.3m for three other tenancies at the complex – all up covering 3796 sqm – again for that fund.
Including components sold to other groups (Macquarie Optical amongst them for a $6m investment in 2022), vendor Stevens Group has banked $32.257m from the Dubbo sell-down.
Some of the proceeds might already be accounted for – the Erina based seller recently outlaying $8.75m for a site in Queanbeyan’s Googong, just outside the ACT border (story continues below).
Spreading 1.184 hectares, part of a town centre within a $1.7 billion housing estate, that parcel came permit-ready for a service station, fast food restaurant, childcare centre and large format retail showrooms.
Mirvac and Peet were the sellers.
Subscribe to our newsletter at the bottom of this page.
