JY Group has acquired a 50 per cent stake in Sydney-based Warriewood Square from ISPT for $135.5 million.

The acquisition takes the value of JY Group’s Australian shopping centres portfolio to $2.8 billion.

Earlier this year, the group completed the acquisition of Roxburgh Village in Melbourne and a 50 per cent stake in Westfield Whitford City in Perth.

“This strong transaction result reinforces increasing investor demand and liquidity for well-located, high-quality metropolitan sub-regional assets demonstrating outstanding trading performance, underpinned by exceptional investment fundamentals and a secure tenancy profile such as that offered at Warriewood Square,” said Simon Rooney, CBRE’s head of retail capital markets – Pacific, who negotiated the sale in behalf of ISPT.

JY Group now co-owns and co-manages the asset with Vicinity Centres.

Warriewood Square’s major tenants include Woolworths, Coles, Aldi, and Kmart, which have weighted average lease expiry of 11.1 years and combined annual sales of over $135 million.

The shopping centre also serves as home to Rebel, Cotton On Mega, JB Hi-Fi, and 97 stores and kiosks.