News & Insights
Stay up to date with the latest news and insights from Home Consortium
Home Consortium today provides an update on the proposed establishment of HealthCo. HealthCo will target a model portfolio of assets in key sub-sectors including hospitals, primary care, childcare, aged care and life sciences.
Anchored by Fresh & Save Supermarket, Goodlife Gym and Guardian child care, HomeCo Richlands also includes several speciality shops, 454 car spaces and is conveniently located next to Richlands Train Station.
HomeCo along with Tomkins Commercial is proud to deliver a new state of the art childcare centre leased to Guardian Childcare & Education at our recently opened HomeCo Richlands.
Home Consortium releases its H1 FY21 Financial Results and continues to deliver on its own, develop & manage strategy as we transition into a capital light manager.
HomeCo is pleased to release HomeCo Daily Needs REIT (ASX.HDN) first half year financial results since listing on the ASX just over 12 weeks ago.
HomeCo Daily Needs REIT (ASX: HDN) has entered into a binding agreement to acquire Bunnings Seven Hills (NSW) for a purchase price of $56.0 million representing a passing yield of 5.1%. Bunnings Seven Hills is a ~22,300 sqm site located 30km north-west of the Sydney CBD.
Home Consortium is pleased to announce the successful completion of the fully underwritten placement announced on Friday, 4 December 2020, raising approximately $125 million through the issue of approximately 32.9 million new stapled securities at an issue price of $3.80 per New Security, which represents a 2.6% discount to the last close price of $3.90 on Thursday, 3 December 2020.
HomeCo today announces an acceleration of our HealthCo strategy. In particular and acquisition of 6 health, education and Government services properties for $131 million.
We are excited to share with you a walkthrough of the Childcare centre being developed at HomeCo Mornington, which is due to open early 2021. The centre will be operated by Aurrum Kids and will feature state of the art facilities designed to encourage curiosity, communication, and creativity.
On Monday, 23 November 2020, Home Consortium was honoured to celebrate the listing of its HomeCo Daily Needs REIT (HDN.ASX) on the Australian Securities Exchange. We were joined at the ASX bell ringing ceremony by members of staff, family and special guests. It was a special day for everyone involved and the culmination of months of dedication and hard work.
Home Consortium confirms that HomeCo Daily Needs REIT (HDN.ASX) has entered into a binding contract to acquire Marsden Park Shopping Centre, a Queensland-based convenience focused asset for a purchase price of $48 million representing a cap rate of 6.75%. The acquisition will be 4.5% FFO accretive for HDN which is due for listing at 12.30 pm today on the ASX.
Home Consortium held its maiden Annual General Meeting on Monday, 18 November. In a year affected by COVID-19, we; Beat our prospectus forecast by 13%; Paid 12cps fully franked dividends; and Increased property valuations by 5.2%. We also announced the next evolution of HomeCo’s Own, Develop and Manage strategy.
Home Consortium (HMC.ASX) and HMC Funds Management Limited in its capacity as responsible entity for the HomeCo Daily Needs REIT (ARSN 645 086 620) have today lodged a product disclosure statement (PDS) with the Australian Securities and Investments Commission in relation to the proposed establishment of HomeCo Daily Needs REIT and entered into an underwriting agreement in relation to an offer of new ordinary units to raise $300 million (Offer).
In anticipation of the establishment of the HomeCo Daily Needs REIT, HomeCo has entered into a binding contract to acquire Glenmore Park Town Centre and agreed terms to a contract to acquire a second Sydney metropolitan neighbourhood centre for total consideration of approximately $220 million. Glenmore Park Town Centre is a Woolworths, Coles and ALDI anchored centre with over 40% of gross income derived from supermarkets and over 30% derived from healthcare and wellness services.
Today Home Consortium announced an update on the proposed establishment of the HomeCo Daily Needs REIT via an in-specie distribution to securityholders, which will comprise a portfolio of stabilised, convenience-based assets targeting consistent growing distributions.
Home Consortium has released its maiden full-year FY20 results announcing it has delivered on prospectus forecasts and confirms the next stage of its growth strategy.
Construction of our newest precinct is progressing quickly in Cairns. Located just a few minutes from the city centre, Tomkins Commercial is undertaking the 12,000m2 refurbishment and conversion project, which will see the development transformed into a Greenstar & NABERS-rated commercial office and retail precinct.
HomeCo is pleased to announce the successful completion of a $140 million fully underwritten placement of 48,611,111 million new stapled securities to institutional investors at a price of $2.88 per Placement Security.
HomeCo received high levels of interest from both existing securityholders and new investors with demand to participate in the Placement well in excess of the funds that HomeCo sought to raise. The funds raised will be used to acquire three properties from Woolworths Group as well as Aurrum Erina from Aurrum Aged Care, an entity associated with David Di Pilla, Executive Chairman and CEO.
Home Consortium announced its preliminary unaudited portfolio valuation increase of 5.2% and property update on 23 June 2020.
Home Consortium in collaboration with Aurrum Aged Care were pleased to donate 200 sleeping bags & blankets from Anaconda & Spotlight to the Rotary Club of Sydney’s winter appeal.
Together with the hard-working staff and volunteers at PCYC & Weave Youth & Community Services, the sleeping bags & blankets were divided amongst Weave’s community hubs and local charities to help assist vulnerable families, young people and children who are in desperate need of essential items to stay warm and comfortable this winter.
Home Consortium released a trading update to address the impact of COVID-19 on the business.
Construction of our new childcare centre at our HomeCo centre in Joondalup has now been completed. Special thank you to the team at H.Troon who lead the construction of this project.
The purpose-built early learning facility features state-of-the-art resources and equipment designed to promote open-ended, play-based interactions and learning opportunities as children are encouraged to move freely throughout the indoor and outdoor learning environments.
We are excited to announce Tomkins Commercial will led the construction of our new Childcare centre at our HomeCo centre in Richlands QLD. The project will include multiple learning rooms, amenities, offices and a large outdoor play area.
Construction of HomeCo Richlands is scheduled to commence later this year.
Home Consortium has now released its maiden financial results as an ASX-listed company for the half year ended 31 December 2019 demonstrating that we have delivered on prospectus forecasts and have established a base for sustainable long term growth.
David Di Pilla, HomeCo’s Executive Chairman and CEO said, “HomeCo is on track to execute its strategy to deliver above average risk-adjusted returns and remains focussed on setting up a platform for sustainable long-term growth via the own, develop and manage model”.
Mainbrace has been appointed to lead the project of our new daily needs centre at Richlands, QLD. This will be our 10th project working in close collaboration with Mainbrace. Construction is due to commence later this year.
HomeCo was extremely honoured last night to receive the 2019 LFRA ‘Developer of the Year’ award.
The inaugural Gala Awards is a celebration of the Large Format Retail Association, and in particular the members who contribute to the success of the Large Format Retail sector.
Our Executive Chairman & CEO, David Di Pilla accepted the prestigious award alongside our COO, Sid Sharma, our Development Director, Andrew Boustred, our Finance & Strategy Director, William McMicking and our General Counsel Andrew Selim.
Today marked a very special occasion in the HomeCo journey as we opened the doors to our much anticipated daily needs centres at Hawthorn East and Keysborough.
Following 8 months of redevelopment of the two high profile Melbourne metropolitan locations, the atmosphere was fantastic with over 10,000 people flowing through the doors across both sites. HomeCo Hawthorn East occupies the prime prime position on the corner of Toorak Road and the Monash Freeway, while HomeCo Keysborough is located on the corner of Springvale and Cheltenham Roads.
Both locations certainly meet the definition of being ‘hyper convenient’ with over 400 easy access car parks at each location. HomeCo Hawthorn East features latest concept stores from Woolworths and Dan Murphy’s plus Anaconda, Chemist Warehouse and Costi’s seafoods.
We are excited to show you a sneak peek of our new HomeCo Keysborough centre opening next week on Wednesday, 27 November 2019. HomeCo Keysborough is anchored by Aldi & IGA and will be complimented by a variety of daily needs and leisure & lifestyle tenants including Oxanda Education, PETstock, BCF and Chemist Warehouse. The centre will also be home to two new exciting cafe retailers, Son of Adam and French Baguette.
Great insight from our Executive Chairman & CEO, David Di Pilla who sat down to speak with Australian economist Tom Piotrowski as part of Commsec’s CEO Executive Series. Hear more about HomeCo’s recent listing on the ASX, our key focus on ‘hyper-convenience’ retail and outlook for asset expansion through future site optimisation.
Our Executive Chairman & CEO, David Di Pilla was featured on Money News with Ross Greenwood. Listen now to hear about the Home Consortium journey right up until our listing on the ASX.
Thank you to all those who attended our ASX bell ringing ceremony on Monday, 14 October 2019. It was a special day for everyone involved and the culmination of months of dedication and hard work. We look forward to a bright and exciting future ahead as an ASX-listed company.
On Monday, 14 October 2019 Home Consortium was honoured to celebrate its listing on the Australian Securities Exchange with members of staff, family and special guests at its ASX bell ringing ceremony. It was a special day for everyone involved and the culmination of months of dedication and hard work. We look forward to a bright and exciting future ahead as an ASX-listed company.
Leading Australian retail and property investor Marc Besen AC has, following due diligence, decided to make a cornerstone commitment in the upcoming HomeCo IPO.
Mr Marc Besen is best known as a major player in the Australian fashion industry, together with owning Highpoint Shopping Centre in Maribyrnong Victoria which is one of the largest super regional shopping centres in Australia. Mr Besen believes that the ultra-convenience offer layered with services is a model that is appropriate for the current environment and into the future.
Mr Besen said, “I am extremely excited to become an investor in HomeCo. I believe the model being pursued will be highly successful in the current retail and property environment with good capacity for future growth. I have great confidence in David Di Pilla, and his management team to execute on their ultra-convenience-based strategy”.
Home Consortium (“HomeCo”) is pleased to announce the appointment of Jane McAloon, Chris Saxon and Brendon Gale to the boards of Home Consortium Limited and Home Consortium Developments Limited as independent non-executive directors in preparation for HomeCo’s upcoming IPO.
They are all highly experienced leaders from their respective fields with a broad range of skills who will bring their own unique insights to HomeCo.
Commenting on the appointments, HomeCo’s Executive Chairman and Chief Executive Officer David Di Pilla said, “We are excited to welcome Jane, Chris and Brendon as independent directors to our board. Each of them have significant first-class experience which will be invaluable to the company not only as we prepare for our IPO but also as we pursue our strategy of building a platform for the future”.
Home Consortium (HomeCo) is pleased to advise that at 1.00pm on Monday 14th October 2019 it will commence trading on the ASX on a conditional and deferred settlement basis.
HomeCo will trade under the ASX code: HMC.ASX
"The commencement of trading today on the ASX is the culmination of months of hard work by our management and advisers. I would like to personally thank them all for their dedication and hard work in achieving today's milestone" said David Di Pilla, Executive Chairman & CEO of HomeCo.
Home Consortium (“HomeCo”) is pleased to announce that it has lodged a prospectus with the Australian Securities and Investments Commission.
The prospectus relates to an initial public offering of 97.0 million securities in HomeCo at the offer price of $3.35 per security, raising proceeds of $325 million. An application will soon be made for admission of HomeCo to the official list of the Australian Securities Exchange.
The funds raised from the offer will allow HomeCo to execute its strategy of unlocking value and growth through owning, developing and managing hyper-convenience focussed retail and services assets.