Oyster Property Group is pleased to announce the acquisition of the Albany Lifestyle Centre for $87.5M. Settlement of the property is expected to occur on 30 April 2021.
The property is located within the heart of Auckland’s North Shore suburb of Albany and is anchored by a 13,707m2 Mitre 10 Mega store.
Oyster intends this acquisition to be the seed asset for a new unlisted large format retail fund, a strong performing, resilient, asset class. The fund will have a particular focus on properties anchored by supermarkets, DIY/hardware and essential service stores and will grow through further acquisitions.