ne Global Capital Chairman and Group CEO Iwan Sunito has announced the rebranding of his The Grand Eastlakes shopping centre in Sydney’s eastern suburbs to One Global Gallery.
The shopping centre will be officially opened this Saturday, 12 December, along with a Street Food Bazaar and Art & Sculpture Exhibition in Evans Avenue in Eastlakes, which the local community is welcome to attend. Over 20 food stalls and six art exhibitions will be on offer.
Mr Sunito explained that his new company, One Global Capital, has announced its first retail offering and experience concept, One Global Gallery.
The Eastlakes shopping centre is the first of what is expected to a series of Retail Galleries to be created under the One Global Gallery brand as part of an ongoing revenue stream for the company.
The Centre grows the company’s recurring income asset base with more acquisitions expected in the coming months. One Global Capital settled on its acquisition of the Centre earlier in October.
The acquisition brings One Global Capital’s investment asset value to be in excess of $500 million, One Global Capital Chairman and Group CEO Iwan Sunito confirmed.
“We are at the early stage of growth phase of the company. I am very happy with the strategic acquisitions that I have built up in the last two years,” he said.
“This significant acquisition, in addition to the $120 million One Global Resorts Green Square, forms part of a strategic seven-year vision to go public while growing the ‘recurring income’ of the company and building its mixed-use development capacity.
“The team is working towards adding more mix including more convenience stores,” Mr Sunito added.
The first stage of The Grand Shopping Centre, which opened in July 2021, comprises over 3,000 sqm of retail space and consists of 16 outlets including a larger format ALDI, a Woolworths Metro and a range of specialty stores.
The centre provides 6.6% net passing yield and once fully tenanted, the centre will provide One Global Capital with 10% net yield.
“We expect to grow the value of this retail investment to over $35 million within a year once the full plan has been implemented,” Mr Sunito added.
“We want One Global Centre to be the new community hub for the East.
“I am greatly inspired on the ‘walking village’ and ‘green concept’ of Brisbane’s James Street in Fortitude Valley and West Hollywood.
“We want One Global Centre to be a centre that brings green to the area and also to rediscover its social and cultural roots.
“I believe that One Global Centre being surrounded by many of the residents around it and the low-rise buildings is ideal for this walkable village and green centre concept.”
