ISPT Retail Australia Property Trust (IRAPT) has announced the acquisition of a prime retail asset, Woolworths Clarkson in Western Australia, in addition to increasing its stake in Mornington Central in Victoria to 100 percent.
These strategic additions align with the A$2.5 billion ($1.6 billion) IRAPT fund’s strategy to reinvest capital in high-quality neighborhood centers located within key geographic hubs where non-discretionary retail continues to demonstrate resilience and long-term income stability.
IRAPT holds 34 retail assets across its national portfolio and has consistently performed as the best retail fund within the MSCI retail index over the past three, five, seven, and 10 years.
The Woolworths Clarkson retail asset is a recently revitalized neighborhood shopping center totaling 6,466 square meters (69,599 square feet). Located 35 kilometers (22 miles) north of Perth in the city of Wanneroo at 19 Neerabup Road, Clarkson, the center is fully leased
