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Stockland Townsville,
QLD
Located in the demographic centre of greater Townsville,
the property continues to be the largest retail centre in its
trade area. Retail demand remains strong, with many national
retailers choosing Stockland Townsville as their preferred
representation in the region.
Major tenants include Big W, Woolworths, Rebel Sport,
Crazy Clarks and Best & Less.
A development application has been lodged to expand
the centre to 45,000 m2.
Location: Townsville, QLD
Acquisition date: June 1987
Ownership/title: 100%/Freehold
Cost including additions: $100.9 million
Independent valuation: June 2009
Valuation/($/m2): $240.0 million ($7,393/m2)
Capitalisation rate: 7.00%
Discount rate: 9.25%
Gross lettable area: 32,462m2
Car parking spaces: 1,914
Annual sales: $232.1 million
Specialty occupancy cost: 12.7%
Major Tenants GLA (m2) L ease Expiry
Big W 6,987 Apr 2015
Woolworths 3,880 Feb 2015
Lease expiry profile
* Under development during the period.
Vacant 1%
FY10 32%
FY11 11%
FY12 8%
FY13 12%
FY14+ 36%
Stockland Glendale,
NSW
Situated on 19.6 hectares, the property showcases a
predominance of major retailers, offering easy access via
on-grade parking. Stockland Glendale was the first of the true
super centre concepts combining retail, leisure and entertainment
on one large level site.
The retail mix includes a JB Hi-Fi, Kmart, Target and
First Choice Liquor.
Location: Newcastle, NSW
Acquisition date: March 1996
Ownership/title: 100%/Freehold
Cost including additions: $84.9 million
Independent valuation: June 2009
Valuation/($/m2): $222.0 million ($4,039/m2)
Capitalisation rate: 7.00%
Discount rate: 9.25%
Gross lettable area: 54,968m2
Car parking spaces: 2,338
Annual sales: $331.9 million
Specialty occupancy cost: 11.5%
Major Tenants GLA (m2) L ease Expiry
Target 8,522 Jul 2011
Kmart 6,425 Nov 2020
Greater Union 5,324 Dec 2016
Coles 5,109 Mar 2016
Woolworths 4,952 Mar 2016
ALDI 1,363 Feb 2017
Lease expiry profile
Vacant 0%
FY10 9%
FY11 5%
FY12 24%
FY13 5%
FY14+ 57%
Stockland Merrylands,
NSW
Located in the CBD of Merrylands, the centre is constructed over
two levels an a 6.44 hectare site.
Stage one of the redevelopment opened in November 2008
and includes a new Kmart, Target and 18 specialty stores.
The redevelopment also includes the major stage of a new
five-level car park with approximately 2,000 car spaces. Stage
two of the redevelopment is now under construction and will
deliver approximately 90 specialty stores. There is a DA pending
to complete stages 3 and 4 of the project.
Location: Western Sydney, NSW
Acquisition date: September 1982
Ownership/title: 100%/Freehold
Cost including additions: $115.2 million
Independent valuation: December 2006
Valuation/($/m2): $151.0 million ($5,157/m2)
Capitalisation rate: 6.50%
Discount rate: 8.50%
Gross lettable area: 29,281m2
Car parking spaces: 1,299
Annual sales: $135.3 million
Specialty occupancy cost: 12.7%*
Major Tenants GLA (m2) L ease Expiry
Kmart 7,519 Nov 2017
Coles 3,634 Oct 2019
Franklins 1,802 Jan 2014
Lease expiry profile
Vacant 0%
FY10 30%
FY11 1%
FY12 3%
FY13 0%
FY14+ 66%
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