Zagame

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The Zagame family has sold the Woolworths-anchored Yarra Junction shopping centre in the Yarra Valley.
It has sold for about $19 million to interests associated with Ari Herszberg and Sam Herszberg, Nine Entertainment reported.
The 3500-square-metre neighbourhood centre stands on an 8188 sq m site at the 2450 Warburton Highway location.
It was first put up for sale in October last year expecting to capitalise on a recent population surge in the outer eastern town.
The Woolworths anchored neighbourhood centre’s 11 specialty stores include an optometrist, bakery, chemist, and Bendigo Bank, which, together with the Woolworths store, returning circa $1.24 million per annum net. 
It has 100 percent occupancy from non-discretionary retailers.
CBRE agents Justin Dowers and Mark Wizel signalled $20 million hopes for the centre that had a strong trading history for over 25 years, and has continued to benefit from a consistent growth tourism within the Yarra Valley Region.
"There is a clear opportunity to add value to this centre," they said, adding it was "very well placed to benefit from any capital investment." 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/22/Yarra%20Junction%202.jpg" alt=""> 
Based on the annual rental return of $1.3 million, the registered vendor, Zagame Yarra Junction Pty Ltd, was seeking to offload Yarra Junction on a passing yield of around 6.5 per cent.
It is understood the sale of Yarra Junction was brokered by Stuart Taylor and Tom Noonan of JLL.
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Ari and Sam Herszberg behind Yarra Junction shopping centre buy

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A collaboration between developers Pellicano and hospitality experts Zagame, could see Melbourne open the Southern Hemisphere’s largest indoor waterpark by summer 2021. 

Not only will the park be home to adrenaline seekers and holiday makers, but an education-focussed initiative will mean students can tour Zagame Wild Water Park behind-the-scenes to discover unique engineering and technology advancements.

The $100 million project, announced earlier this week, contains numerous exciting features such as the ability to launch yourself from towers on zip-lines, play interactive video games through water tunnels, zoom skyward in uphill waterslides, float beneath a giant aquarium of marine-life and more. 

Zagame’s Wild Water Park has been in the planning process for seven years, under the management of award-winning architects Peddle Thorpe. The team also employed the help of Canadian company WhiteWater West, who will bring new innovative technology down-under.

<blockquote>
“The park will be home to some of WhiteWater’s latest innovations in technology and design, bringing a truely one-of-a-kind experience to all Australians.”
</blockquote>

- James Corbett, Managing director of WhiteWater West Australia.

Once open, primary, college and tertiary students will be invited to explore the engineering and technological aspects of the design on a guided tour.

The park will also provide multiple hands-on learning stations such as interactive iPad’s where children can learn about the lifecycle of food, a freshwater aquarium exhibit and a community vegetable garden. Pellicano’s managing director Nando Pellicano explains the ‘learn while playing’ philosophy will provide the wider community with “safe and educational fun for all-ages”. 

THE FACTS:

<ul>
<li>Situated in Dingley Village, only 40 minutes south-east of Melbourne’s CBD</li>
	<li>The park is estimated to create 1184 full-time jobs</li>
	<li>18,200 sqm indoors / 20,000 sqm outdoors</li>
	<li>Will deliver year-round, all-weather experiences</li>
	<li>Forecast visitation numbers at over one million annually</li>
	<li>Zagame and Pelliccan have committed to implementing multiple sustainable practices such as solar power, reuse of rainwater collection, extensive indigenous wetland planting, focus on composing/recycling/biodegradable processes </li>
	<li>The two companies have previously collaborated on Paradise Resort in the Gold Coast</li>
</ul>
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