670 Chapel Street, South Yarra

Vogue Plaza is a 17,000m2 sub-regional shopping mall in the highly desirable inner Melbourne location of South Yarra.  The centre is anchored by Australia's largest grocery chain – Woolworths and has more than 600 car spaces.

Investment Details

  • Sub Regional enclosed shopping mall
  • Purchased 100% interest in 2015 for a wholesale client
  • Purchase price circa $100 million
  • NLA of 17,000 sqm over 3 levels
  • 600 basement car spaces
  • Income secured by long leases to national retailers
  • Key criteria was for retail property with long WALE, strong tenant covenant, minimal capital expenditure, good location and high level of foot traffic
  • JGS reviewed more than 10 potential properties
  • Mall has been repositioned over 2 years resulting in material improvement to sales turnover and value

Investment Returns

  • IRR Forecast >10%

Key JGS Property Disciplines

  • Property Advisory
  • Property Investment
  • JGS ran due diligence process, all commercial negotiations and managed legal process