Pep Rocca partners with Alessio Roscio to launch property fund

Investors will have a chance to inject capital into some of SA’s biggest development projects through a new funds management business set up by local developers.

Property developer Pep Rocca has partnered with ­chartered accountant Alessio Roscio to launch a new property funds management business in Adelaide.

The new wholesale fund manager, Curated Capital, has a mandate to invest in “high value property projects” across South Australia, according to the founders, who have already raised $40m for the $110m COMO residential and retail project in the heart of Norwood.

Construction recently commenced on The Parade, where Mr Rocca is overseeing the development of more than 50 apartments, 24 townhouses and a next-generation Coles supermarket.

He said a new wholesale fund, 166 The Parade, was fully subscribed and would invest in and develop the COMO project.

“We put our money where our mouth is and we always invest heavily in the projects ourselves,” he said.

Curated Capital founders Pep Rocca, left, and Alessio Roscio at The Parade, Norwood, where they are overseeing the $110m COMO development. Picture: Roy VanDerVegt

“This is about allowing access for wholesale investors into some of South Australia’s best projects. We’ve got substantial interest from our existing relationships but we’re definitely looking to broaden the investment pool as well.

“Our COMO fund raised $40m in capital within days of being opened to a select group of wholesale investors. This, coupled with a significant 85 per cent pre-sale of residential apartments, is a great vote of confidence in the ­project.”

COMO will include a complete redevelopment of the Coles supermarket in Norwood Mall, as well as a medical centre, retail tenancies and a mix of housing. It is expected to be completed by mid-2023.

The planned redevelopment of the former Coca-Cola bottling site in Thebarton — an ambitious vision to transform the 3.6ha site into a $350m biomedical hub — will also be ­offered to investors through a Curated Capital fund.

Artist's impression of the proposed $350m redevelopment of the former Coca-Cola bottling plant at Thebarton - known as Bio Hub Adelaide. Supplied by Australasian Property Developments

Known as Bio Hub Adelaide, the project is hoping to capitalise on the city’s burgeoning reputation for world-class biomedical research and facilities, and would include laboratory, medical consulting and office spaces, a hotel and medi-stay ­facility, cafes, shops and a mix of townhouses and retirement ­accommodation.

Mr Roscio, the managing director of local accounting firm RCR Partners, said individual investors would typically be required to inject at least $100,000 into a Curated Capital fund. He said he was often approached about opportunities to invest in major property development projects.

“We have many clients who are wishing to diversify their investment portfolio and access unlisted, and what were previously exclusive, opportunities,” he said.

“Our extensive understanding and networks within the South Australian market allows us to see value and opportunities in projects that other fund managers may not. This goes to the core of what we believe to be our competitive advantage and is the basis upon which we ­intend to leverage the fund to benefit our investors.”

Artist's impression of the $110m COMO development at The Parade, Norwood. Supplied by Australasian Property Developments