A rare opportunity to invest in an inner-urban large format retail asset in Chadstone, Victoria, where population growth and constrained supply are expected to support long term demand fundamentals.
Wholesale investor?
Wholesale units in the Centuria Chadstone Homemaker Centre Fund are also on offer for investors who qualify as wholesale investors.
7.0% p.a.
Forecast distribution yield in FY27 and FY281
Monthly
Distributions2
5-year
Initial Fund term3
90%
tax-deferred in FY274
Property overview
The Chadstone Homemaker Centre (Property) is a modern, large format retail property across two levels.
Anchored by Bunnings Warehouse and supported by a complementary mix of national and ASX-listed tenants, the Property delivers a resilient and diversified income profile.
Key Property attributes include:
- Fully leased to ASX-listed and national tenants including Bunnings Warehouse, The Good Guys, Freedom and Petstock, which is expected to support income stability.
- A weighted average lease expiry (WALE) of 4.2 years5 with no material lease expiries until FY30.
- A substantial 15,183 sqm commercial 1 Zoned site comprising 19,574 sqm of gross lettable area.
- Directly adjacent to Chadstone Village, home to Coles, ALDI, Harvey Norman, Officeworks and more, which is complementary to the Property rather than a competing product.
- Acquired at a 20% discount to the estimated replacement cost of $103.32 million including land value.
Research rating
The Centuria Chadstone Homemaker Centre Fund has obtained a Recommended rating from Core Property Research.6
Location overview
The Property is located in the blue‑chip retail precinct of Chadstone, Victoria, approximately 17 km south‑east of the Melbourne CBD.
Recognised as one of Australia’s most established and tightly held retail precincts, Chadstone benefits from proximity to major arterial roads, a deep trade area and high recognition.
It has direct exposure to Warrigal Road, proximity to the Monash Freeway and surrounding arterial routes, providing strong accessibility and connectivity within Melbourne’s south eastern suburbs.
The Property is also strategically located within a strong catchment area. Total LFR spending within the catchment was estimated to be approximately $1.3 billion in 2024/25 and is forecast to increase by approximately $1.5 billion (115%) to $2.8 billion by 2046, representing forecast average annual growth of approximately 3.6% per annum (or $70.0 million per annum) over the period7.
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Important information
Risks
All investments in unlisted property funds carry risk. As the Fund invests in large format retail property it carries the market and property risks associated with investing in this sector, including tenancy and leasing risk. As a geared investment, the Fund also carries associated financial and leverage risks. Risks can impact on distribution and capital returns over the term of the Fund. It is important that you read the Product Disclosure Statement (PDS) and understand the risks of investing. Centuria and its associates will receive fees in relation to an investment in the Fund as disclosed in the PDS. Centuria’s management fee will be paid as additional units of equivalent value issued at the Issue Price. Investment in the Fund is subject to risks including possible delays in payment or loss of income and principal invested. Centuria does not guarantee the performance of the Fund.
Liquidity/Fund term
Investors cannot withdraw their investment during the five-year initial investment Fund Term. The initial Fund term may be extended – refer to the terms and conditions in the PDS.
Offer update – revised target capital raise
Wednesday, 18 March 2026: Centuria Chadstone Homemaker Centre Fund (‘Fund’) has announced it is increasing the minimum offer amount from $51,843,346 to $52,243,346. The additional funds will be applied to acquire an interest rate swap which will provide the Fund additional protection against adverse interest rate movements. Other than the increase in the minimum offer amount, there are no other material impacts on the key features of the Fund. A printed copy of this continuous disclosure statement is available to investors free of charge on request by contacting Centuria on +61 2 8923 8923 or by email at contactus@centuria.com.au.
Request a PDS
Investors should review the PDS before making any investment decisions.
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Risks: All investments in unlisted property funds carry risk. As the Fund invests in large format retail property it carries market and property risks associated with investing in this sector. As a geared investment, the Fund also carries associated financial and leverage risks. Risks can impact on distribution and capital returns over the term of the Fund. It is important that you read the offer documents and understand the risks of investing. Centuria and its associates will receive fees in relation to an investment in the Fund as disclosed in the PDS. Investment in the Fund is subject to risks including possible delays in payment or loss of income and principal invested. Centuria does not guarantee the performance of the Fund.
1. Forecast average annual distribution over FY27 and FY28 assumes that settlement of the property will occur on or around 17 June 2026. Forecast distributions shown are annualised and pre-tax. Distributions will be paid if declared by Centuria Property Funds No.2 Limited and will be subject to the terms, assumptions and risks set out in the Product Disclosure Statement (PDS). The forecast distribution rate is predictive in nature and is subject to assumptions, risks and circumstances (both known and unknown) outside of the control of the Fund. These assumptions include that all tenants will satisfy their contractual obligations under their respective leases within a timely manner, there are no significant unforeseen capital costs or material changes to the Fund’s financial obligations. The actual returns may differ from the target/forecast return. The Responsible Entity does not guarantee the performance of the Fund, the repayment of capital or any income or capital return. Past performance is not reliable indicator of future performance. In addition, given the current volatility in interest rate forecasts, should interest rates normalise at higher (or lower) than forecast levels, target/forecast distributions may be revised.
2. Distribution will be paid if declared by Centuria Property Funds No.2 Limited and will subject to the terms, assumptions and risks set out in the PDS.
3. Initial Fund term may be extended – refer to terms and conditions in the PDS. Investors cannot withdraw their investment during the five-year initial invetment Fund term.
4. Forecast distributions are expected to be 90% tax deferred for FY27, 66% for FY28 and then reduce over the remainder of the Fund term. For Australian residents only.
5. Weighted average lease expiry (by gross income) forecast as at 1 July 2026. Occupancy levels, lease terms and tenant mix may change over time.
6. The Core Property rating (assigned in March 2026) presented in this document has been prepared and issued by Core Property Research Pty Ltd (“Core Property”), which is an Authorised Representative ASIC number 1280479 of Core Property Research Holdings Pty Ltd (ACN 633 170 751, AFS License No. 518320) (Licensee), and trading as Core Property. Whilst the information contained in the report has been prepared with all reasonable care from sources that Core Property believes are reliable, no responsibility or liability is accepted by Core Property for any errors, omissions or misstatements however caused. Past performance information is for illustrative purposes only and is not indicative of future performance. The Core Property publication is not and should not be construed as, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information only. Neither Core Property nor the Participant is aware that any recipient intends to rely on this Report or of the manner in which a recipient intends to use it. The rating is subject to change without notice and Core Property assumes no obligation to update the report.
7. Main trade area catchment growth through to 2046. Source: Location IQ Report, January 2026.
8. Centuria’s Assets Under Management (AUM), retail and LFR portfolio statistics as at 31 December 2025.
Disclaimer: Centuria Property Funds No.2 Limited ABN 38 133 363 185 (AFSL 340 304) (Centuria) is the responsible entity for the Centuria Chadstone Homemaker Centre Fund ARSN 695 478 105 (CCHCF or Fund). Centuria is a wholly owned subsidiary of the ASX-listed Centuria Capital Group Limited ABN 22 095 454 336 (Centuria Capital Group) (ASX:CNI). It is intended that a Product Disclosure Statement (PDS) for the Fund will be issued on or around 9 March 2026. You should obtain and read a copy of the PDS relating to the Fund before making a decision to invest. The PDS for the Fund will be made available from Centuria’s website (www.centuria.com.au). The information in this communication is general information only and does not take into account the objectives, financial situation or particular needs of any person. You should consider whether this information is appropriate for you and consult your financial or other professional advisor before investing. A Target Market Determination will be issued for this product and will be published on Centuria’s website at centuria.com.au/ddo.
