Trilogy Funds opened a $13.65 million capital raise today to support the launch of the Trilogy Essential Retail Fund (the Fund), a new unlisted property fund set to acquire a high-performing retail asset in Perth’s northern growth corridor as its seed investment.
The Fund will acquire the fully leased Brighton Village in Butler, a convenience retail centre located 41 km north of the Perth CBD and anchored by a Coles tenancy which currently accounts for 78% of the asset’s income.
Trilogy Manager – Property Funds Laurence Parisi said the launch of the Fund signals an evolution in Trilogy’s investment strategy into the highly resilient, non-discretionary retail space.
“We’re drawn to sectors offering overlooked or misunderstood opportunities, and retail is one of them,” Mr Parisi said.
While the broader market has been quick to discount retail due to the rise of e-commerce, not all retail assets are created equal. Community-focused and large format retail centres – especially those with convenient access and ample parking, and co-located essential services like supermarkets, medical centres, and childcare – are proving to be resilient performers. These hubs continue to meet daily needs in ways online retail simply can’t, and that creates opportunity for investors willing to look beyond the headlines.”
“We see strong long-term fundamentals in this niche, particularly in well-located neighbourhood centres anchored by essential service providers like Coles.” Mr Parisi said.
“These assets offer the consistent income, strong tenant profiles and lease stability our investors value, particularly as the market transitions beyond the peak of the rate cycle.
“The new fund is a strategic addition to Trilogy’s portfolio of income-focused property trusts and a timely opportunity for investors seeking dependable yield and lower volatility in changing market conditions.”
Brighton Village comprises seven tenancies with a weighted average lease expiry (WALE) of 7.48 years, 100% occupancy, and fixed annual rental uplifts of 3.5% to 4.0% for each specialty retailer. Coles’ tenancy expires in October 2033 with a further four ten-year options. Alongside Coles, tenants include a fitness operator, a real estate agency, and quick-service food retailers.
“Brighton Village is exactly the type of asset we’re targeting in this market. It has a resilient tenancy profile, stable income, and a location poised for long-term growth,” Mr Parisi said.
“The asset benefits from more than 35,000 passing vehicles daily and is situated in a catchment forecast to add over 70,000 new households within the next 20 years.
“This is the first of several opportunities we’re exploring in the convenience retail sector, where demographic growth and limited supply are creating strong fundamentals.
“It reflects our ongoing focus on delivering income-focused investment options that align with long-term market trends.”
The Brighton Village acquisition will be funded through a mix of equity raised from investors and debt, with the centre to be purchased for $25.3 million.
The Product Disclosure Statement (PDS) is now available, and applications to invest in the Fund are open.
Trilogy Funds is targeting an indicative distribution of 7.00% p.a.1,2, underpinned by a 100% leased asset with a 7.48-year weighted average lease term (WALE), national tenants, and fixed rental uplifts. The capital raise will be open for a limited period, with Trilogy anticipating strong investor interest.
ENDS
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- Target return is indicative only. Actual return may vary materially, and may lead to the loss of some or all of investor capital. Any projections or forward-looking statements are based on assumptions that may not materialise. Past performance is not a reliable indicator of future performance. Investors should consult with a financial adviser before making any investment decisions.
- Target return assumes interest hedging on the intended finance facility which is subject to finalisation.
This media release is issued by Trilogy Funds Management Limited ABN 59 080 383 679 AFSL 261425 (Trilogy Funds) as responsible entity for the Trilogy Essential Retail Fund ARSN 687 648 068. Application for investment can only be made on the application form accompanying the Product Disclosure Statement (PDS) dated 22 July 2025. The PDS and Target Market Determination (TMD) dated 22 July 2025 for the Trilogy Essential Retail Fund ARSN 687 648 068 are available at www.trilogyfunds.com.au. The PDS contains full details of the terms and conditions of investment and should be read in full, particularly the risk section, prior to lodging any application or making a further investment. All investments, including those with Trilogy Funds, involve risk which can lead to no or lower than expected returns, or a loss of part or all of your capital. Trilogy Funds is licensed to provide only general financial product advice about its products and therefore recommends you seek personal advice on the suitability of this investment to your objectives, financial situation and needs from a licensed financial adviser. Investments with Trilogy Funds are not bank deposits and are not government guaranteed. Past performance is no indicator of future performance.
