Big box centre owner Aventus Retail Property Fund has declared it has nothing to fear from the looming arrival of Amazon in Australia, saying its diverse tenant mix will buffer its earnings.
The group, co-founded by retail and property billionaire Brett Blundy and chief executive Darren Holland, has kept faith with its strategy of increasing exposure to non-bulky goods retailers such as cafes, child care centres, pet stores and government service outlets.
Its full-year results showed they accounted for over a third of its tenant base and 37 per cent of its income.
Mr Holland said while the rate of growth in retail sales had been slowing for some tenants, Aventus lifted like-for-like sales by 3 per cent.
Recent examples included a lease in Newcastle to Australia Post, a new recharge centre in its Ballarat homemaker centre and a child care centre at Cranbourne in outer Melbourne.
Growing its asset base had boosted funds from operations for the year to June 30 to $71 million. In the past year, Aventus has boosted its share of the national large-format retail sector to 14 per cent through the purchase of The Castle Hill and Marsden Park centres in NSW for $436 million.
These have given Aventus 43 per cent of the Sydney…