Investors have backed Trilogy Funds’ newly launched Trilogy Essential Retail Fund with $13.65 million raised in six weeks, signalling strong support for its strategic focus on convenience, essential services, and large-format retail.
The capital raised will be used as equity in the acquisition of the unlisted Fund’s seed asset – the $25.3 million Brighton Village in Butler, Western Australia, a fully leased Coles-anchored convenience retail centre 41km north of the Perth CBD.
Trilogy Funds Head of Direct Property Laurence Parisi noted Wanneroo, in which Butler is located, is positioned for significant growth over the coming decades.
“Wanneroo was recently ranked as the third most liveable city in Australia by the MCG Four-Pillar Lifestyle Index 2025, behind Warringah on Sydney’s Northern Beaches and Stirling in Western Australia,” Mr Parisi said.
The Index reveals which regions best marry strong lifestyle appeal with some of Australia’s most resilient residential property price growth.
“What separates Wanneroo from the other top three liveable cities is its growth prospects. Wanneroo is forecast to add 89,300 new residential dwellings between 2021 and 2046. The other two localities are more established, and are significantly less affordable places to live than Wanneroo.
“Wanneroo’s population and housing growth is set to increase the catchment size for Brighton Village, which will steadily increase the demand for the centre.”
The Fund is targeting essential service and convenience retail properties, including neighbourhood centres and large-format assets, with a focus on income strength, long lease terms, and tenant categories that remain resilient amid shifting consumer behaviour.
“The Fund’s strategy centres on essential, high-utility retail assets that consumers depend on routinely, which continue to show consistent demand and deliver resilient performance across economic cycles,” Mr Parisi said.
“We’re focused on properties strategically located across Australia that deliver reliable income and long-term capital growth potential, underpinned by stable cashflows, resilient tenants, and fixed rental uplifts.”
“The assets we’ll be seeking to acquire in the Fund offer greater potential for income stability and resilience when compared to other parts of the property market, which in our view is driven largely through a combination of structural market advantages and evolving consumer behaviours.”
“The Australian retail landscape is evolving, and shoppers increasingly want quick, consolidated access to groceries, childcare, and medical services, all in one location. At the same time, large-format categories like furniture and hardware continue to outperform expectations thanks to in-store expertise and product range.”
Brighton Village comprises seven tenancies with 100% occupancy, anchored by a Coles tenancy responsible for 78% of income and supplemented by six specialty tenants. The weighted average lease expiry (WALE) of 7.20 years as at 31 August 2025. Specialty tenants have fixed annual rental uplifts of 3.5% to 4.0%, while Coles’ lease runs to October 2033 with eight further 10-year renewal options.
“Trilogy Funds takes an active management approach, identifying assets with value-add potential through lease negotiations, tenant expansion, and selective development,” Mr Parisi said.
“We’re seeing growing investor appetite for defensive retail assets that can deliver stable income and capital growth, with the added benefit of high-traffic anchor tenants and long-term demand drivers.”
“That’s exactly why the Trilogy Essential Retail Fund is structured to offer income strength, long lease security, and portfolio resilience, delivered through a disciplined, sector-specific strategy.”
ENDS
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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.
