Occasio Projects’ $500 Million Acquisition of Mernda Town Centre in Melbourne

Maddocks has been appointed by a private investor group to advise on the revitalisation of the Mernda Town Centre in Melbourne’s outer northern suburbs.

Ray Zelouf’s Occasio Projects has acquired mixed-use Mernda Town Centre in Melbourne’s north from Woolworths Group (ASX: WOW).

Construction has now commenced on Stage One of the shopping centre component of the project which is expected to cost $110 million and create approximately 300 construction jobs, with an opening in sight for mid-2022.

The project will include the construction of a shopping centre with 35 retails shops and a Woolworths supermarket as the anchor tenant, commercial entertainment, residential and health care facilities. The project will be developed in stages over 5 years, with stage 1 already underway.

Woolworths will remain as the key anchor tenant to deliver a full-line supermarket, along with 35 speciality retail shops.

The project has received financial backing from the three shareholders of Occasio Projects who have initially acquired the site via Mernda Retail Developments Pty Ltd: Occasio’s founder and managing director Ray Zelouf; Dorman Capital, the family office of the Regis Healthcare (ASX: REG) co-founder Bryan Dorman; and Jensz Investment Company, owned by Lion Advisory founder Craig Jensz.

Occasio Projects is a specialist real estate investment firm. 

The Maddocks team is led by partner Nick Holuigue (Picture) and includes partners Andrew Pitney, Ilan Kraus, Michael Taylor-Sands and Robert Gregory, special counsel Trent Chugg, Andrew Wright and Viviane Karoumbalis, senior associates Catherine Marino and Michael Copeland, and associates Thandi Ellis and Sophie Boyd.

 

Involved fees earner: Sophie Boyd – Maddocks; Trent Chugg – Maddocks; Michael Copeland – Maddocks; Thandi Ellis – Maddocks; Robert Gregory – Maddocks; Nick Holuigue – Maddocks; Viviane Karoumbalis – Maddocks; Ilan Kraus – Maddocks; Catherine Marino – Maddocks; Andrew Pitney – Maddocks; Michael Taylor-Sands – Maddocks; Andrew Wright – Maddocks;

Law Firms: Maddocks;

Clients: Dorman Nicholas; Jensz Craig; Zelouf Ray;

Author: Sonia Carcano