Oreana secures $300 million shopping centre deal with IFM Investors
We’ve sold a $300 million shopping centre portfolio to IFM Investors, with Oreana developing and building all four sites in Melbourne’s growth suburbs. It’s the first transaction under a new strategic partnership between IFM, Fawkner Property and Oreana. The transaction was introduced and managed by Fawkner with Stonebridge acting on behalf of Oreana.
A four-site portfolio across Melbourne’s growth corridor
We’ve built the portfolio across Botanical Village in Mickleham, Deanside Central in Deanside, Riverwalk Village in Werribee and Eynesbury Village near Melton. Botanical Village recently reached completion, opening on 18 March with 7,400 square metres of Gross Lettable Area anchored by a Coles and 25 specialty stores, co-located with an Aspire Early Learning & Kindergarten. The remaining three centres are under construction and due for delivery over the next 18 months, with Deanside Central offering 8,200 sqm GLA, Riverwalk 6,400 sqm GLA and Eynesbury 7,600sqm.
A model built around community
Oreana Managing Director Tony Sass said each site reflected the group’s model of pairing convenience retail with childcare in new communities.
“Oreana’s retail model is about more than just delivering a place to shop – it’s about creating a central hub in new communities where daily life is easier and more connected,” he said.
“Developments like these purchased by IFM play a vital role in building and uniting greenfield communities, offering residents a shared space to meet, connect and truly feel at home in their growing neighbourhood. The sale of these assets reflects the resilience and growth in demand for local shopping post-COVID, and the unique strength of Oreana’s integrated model that delivers high-quality retail fast and with little fuss.”
What it means for Oreana
This is proof our model works at scale. It’s a vote of confidence in Oreana’s model with five centres currently in construction across Melbourne and a track record of delivering convenience retail on time and on budget.
It also confirms the strength of our partnership approach. The deal adds to IFM’s existing portfolio of more than 50 convenience shopping centres across Australia, with the fund manager pointing to long-term institutional confidence in high-growth suburban retail, Melbourne’s northern suburbs alone are forecast to reach $619.8 million in retail spending by 2041.
