Investment Industry News

Revelop grows retail portfolio with latest Tramsheds acquisition

Tramsheds is the retail centrepiece of the Mirvac Harold Park residential development

After a competitive on-market campaign, Revelop is pleased to announce it has acquired the State Heritage Listed Tramshed’s at Harold Park in Sydney’s inner West.

Located only four kilometres from Sydney’s CBD, Tramsheds is Sydney’s most exciting food and lifestyle destination, housed in the former historic Rozelle Tram Depot.

Tramsheds was originally constructed in 1904 and underwent significant redevelopment between 2014 and 2016 and is the retail centrepiece of the Mirvac Harold Park residential development. The space was visioned following three main principles: place, people and produce. The architecture and history of the space was reimagined to become an exciting place to experience, learn and shop.

Nick Willis and Sam Hatcher of JLL were appointed to undertake the expressions of interest campaign on behalf of owners Mirvac. The settlement of this transaction is expected at the end of February 2022.

Home to some of Sydney’s most renowned restaurants, Tramsheds boasts an impressive retail lineup including Bodega 1904, Butcher and the Farmer, Flour Eggs Water, China Diner and Gelato Messina, together with Supamart, Chambers Cellars, Medical Centre, Bodyfit Gym, Moe & Co. and Depot Nail Bar.

The property has key attributes which contribute to its current and future success including a captive audience in the primacy catchment of circa 200,000 people. Tramsheds comprises a net lettable area of 5952m2 and is set amongst a total lot size of just over 23,000m2.

Commented on the Tramshed’s acquisition, Revelop Managing Director Charbel Hazzouri said: “Tramshed’s is the jewel in the Crown that is Sydney. Home to local and international retailers, providing both discretionary and non-discretionary offers to the Inner West community as well as greater Sydney. Revelop looks forward to welcoming this amazing property to our portfolio with future to build on this already Landmark property”

Revelop has a significant portfolio of commercial, retail and residential holdings within its private family-held group across New South Wales, Victoria, and South Australia. It more recently acquired Emerton Village Shopping Centre in February 2022 as well as City Cross Centre containing a food precinct, retail, bulky goods, and office within a landmark Adelaide CBD location.

Building on its retail portfolio, Revelop will continue the year as it did in 2021 with key acquisitions across retail, commercial and residential sectors including both existing, brownfield and greenfield sites across its current three states of activity plus is actively seeking the right asset to establish its reach into Tasmania.

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