State Government funds nearly $12 million infrastructure boost for regional workers accommodation.

Wodonga Plaza has started to release information on a new range of fashion retailers to bolster the Centre’s fashion offering, with Cotton-On Mega confirming its commitment to open later this year.

The announcement is the first in a line of the fashion giants to be confirmed just weeks after Best & Less opened its doors and details of Wodonga Plaza’s new 140 seat food court.

Centre Manager, Ms Cherie Daly, said the new retail tenancies will complement the shopping centre’s existing fashion outlets and take the environment one step closer towards a fully tenanted community shopping hub.

“Our new owner, M/Group, is looking to create the best shopping experience in the region. Wodonga Plaza will be a ‘one-stop-shop’ environment, where you can pick up your groceries, grab a bite to eat and enjoy a variety of fashion possibilities,” she said.

“The new retail tenancies will provide a full range of fashion options for babies through to menswear and women’s style. We are already receiving  great community feedback in relation to the changes taking place and, once complete, we hope to go back to the site’s historic ‘sales yard’ roots to deliver a genuine community hub and meeting place.”

Cotton-On Mega will take approximately 1100sq.m space adjacent to the new Best & Less store.

M/Group Director, Mr James Collis, said while the new tenancies are a great retail bonus for the community, the underlying benefits in employment and driving the local economy are significant.

“We are really thrilled that M/Group’s $2million investment in refurbishing Wodonga Plaza is already seeing benefits for the community. Investment in regional environments such as Wodonga often has an extensive multiplier effect,” he said.

“We are delighted that our new retailers are already looking to source new staff, engage suppliers and encourage local spend. Keeping the funds local will help to drive the area’s economy and, ultimately, create more jobs outside the Centre. It’s fantastic to see this all play out so quickly after out arrival to the town mid last year.”

The new fashion retailers will join Target, Autograph, BagsOnly, Jay Jays, Just Jeans, Millers, Nation Street & Surf, Noni B, Spendless Shoes, Suzanne Grae and Williams.

Cotton-On Mega is scheduled to arrive at the Centre in September 2018 with new announcements to be on other fashion brands in the coming week.

The community is invited to follow the Wodonga Plaza Facebook Page and/or subscribe to its newsletter via www.wodongaplaza.com.au for regular updates.

M/Group has confirmed the acquisition of an elevated 11.8-hectare residential development site in the Perth suburb of Beeliar. The acquisition is a result a successful capital raising venture of $13.85m; adding to a long list of investment funds issued by the company that have oversubscribed within weeks and taking the Group’s total capital raise to over $70million in just 12-months.

The Beeliar site is the vertical property Group’s second land estate project, having only entered into the land development sector in late 2017. The site has received Local Structure Plan approval for the development of 171 residential lots with integrated parkland and the preservation of a number of established Tuart Trees throughout the site.

M/Group Managing Director, Mr Lloyd Clark, said the Beeliar land acquisition is a significant leap in terms of value proposition from the company’s initial land venture in Secret Harbour, but is well-aligned to the organisation’s strategic interests.

“M/Group continues to generate investment interest for the development and delivery of investment fund opportunities that often result in oversubscription. Our portfolio today covers a broad range of built form, income producing asset and now land development, and we have found this approach of providing investment diversity to be highly effective in changing market conditions,” he said.

“A hallmark of M/Group’s ongoing success across all products is the identification and acquisition of strategically located sites. By all accounts, Beeliar is certainly one of these.”

The projected financial return for private equity investors is 70% over a forecast 36-month investment period, with distributions to be paid on the basis of a 27% Internal Rate of Return.

“Our increasing interest in residential land product complements a portfolio that now incorporates apartment developments, shopping centres and commercial development,” Mr Clarks continued.

“We are extremely privileged to have a growing staple of investors that share our long-term vision and support each project and what we can deliver.

“Perhaps the key reason we experience such rapid success with our fund releases is our approach. M/Group is not merely about acquiring and selling, we have the capacity and the internal expertise to build value into each investment and will continue to source and secure product that meet our strict criteria.”

From its beginnings as an apartment development company operating in inner city Perth some 16 years ago, M/Group today incorporates an integrated range of inhouse services that include M/Construction, M/Finance and M/Property real estate expertise.

M/Group holds an Australian Financial Services License and currently has $172 million of funds under management.

For more information on M/Group’s property portfolio visit www.mgroup.com.au.

As reported by Susan de Ruyter in The West Australian, 23rd May 2018.

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Wodonga Plaza has released information and imagery on its pending transformation, with news that Wodonga’s first ever food court is fully-tenanted and will create a community meeting place that seats up to 140 people and a recharge station.

The food court will expand on the shopping centre’s existing food offer with three new tenants, including Ichiban Sushi, Sandwich Chef and Kebab Kings

It is scheduled to open shortly after the highly anticipated launch of Best & Less, which will arrive at the Centre on 24^th May 2018.

Mr James Collis from centre owner M/Group, said the activity will be the first time the community will get to experience the benefits of the company’s $2million investment. He said the refurbishment will create a much more workable and flexible space, with more announcements to be made in the coming weeks.

“We came into Wodonga to activate this amazing community space and introduce new life into an environment that has endured over decades as a community hub,” he said.

“A great deal of work has been done in securing the right tenancies to provide the local community with a great retail experience. We believe we have got the mix right and very much look forward to delivering on our promise to create something very special for this tight-knit community.”

M/Group is a boutique property company that has made a name for itself throughout Western Australia for identifying property opportunities and using its internal resources in land, residential, construction and assets management to activate and introduce new life into environments.

In addition to the new food and retail offer at Wodonga Plaza, the company is in the final stages of negotiation for a number of fashion tenancies, which will complement the extended leases of existing outlets and secure the shopping centre’s position as a key fashion destination.

Centre Manager, Ms Cherie Daly, said the community response to the changes taking place have been outstanding. She believes the renewed environment will attract more families to enjoy the centre and everything it has to offer as a community hub.

“This is a massive investment for Wodonga, and I think M/Group’s commitment to the community has not been missed on anyone,” she said.

“The Centre continues its great family entertainment program and on completion of the refurbishment works, we will have announced a number of national and boutique retailers. Wodonga Plaza will be completely tenanted and it is a credit to our community for attracting the caliber of retail we will have on offer.

“We thank everyone for their patience during the construction phase and look forward to your support when the doors open to a renewed environment.”

Wodonga Plaza is the site of the region’s original stock sale yard and continues to hold onto its role as a local community hub.

Construction on the site is scheduled for completion around August/September with more announcements to be made in the coming weeks.

The community is invited to follow the Wodonga Plaza Facebook Page and/or subscribe to its newsletter via www.wodongaplaza.com.au for regular updates.