HABEN RETAIL NO. 2 TRUST (HR2T)
HR2T was established in June 2012, the asset of this trust is Station Plaza St Marys, a Retail Neighbourhood Shopping Centre located adjacent to St Mary’s train station.
The site was acquired on a net passing yield of 11.3% which represents buying at $2000 per square metre of GFA including land, a price well below replacement cost.
Since acquiring the asset Haben have achieved the following:
- Leased vacancy
- Installed a new passenger lift to improve convenience
- Refitted the bathrooms to improve amenity
- Identified residential development opportunities on the site