New fund series launched with Westfield Chermside investment
Dexus today announces the launch of the Dexus Strategic Investment Trust (DSIT) series, designed to provide investors with access to high quality Australian assets held for long-term value creation. Dexus has exchanged contracts with Scentre Group to seed the first fund in the series, DSIT1, through the acquisition of a 25% interest in Westfield Chermside, Brisbane for $683 million1, reflecting a market capitalisation rate of 5.0%.
This investment follows Dexus Wholesale Shopping Centre Fund’s acquisition of a 25% interest in Westfield Chermside in July 2025, bringing Dexus’s Platform stake in the asset to 50%.
As the nation’s second-largest regional shopping centre by both sales and gross lettable area, Westfield Chermside is one of Australia’s most iconic and dominant retail destinations. Westfield Chermside serves one of Australia’s fastest-growing metropolitan catchments, underpinning a long-term growth outlook.
Ross Du Vernet, Dexus Group CEO & Managing Director said: “Our Funds platform provides investors with access to high-quality assets across multiple strategies that align with their specific investment objectives. By working closely with our investment partners, we’re able to deliver compelling opportunities and continue to expand our platform offering."
Kirrily Lord, Dexus Executive General Manager, Retail said: "This transaction leverages our established relationship with Scentre Group to secure a further Platform investment in a market-leading asset."
Read the full ASX Announcement here.
1. Excluding transaction costs.