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Stockland Rockhampton,
QLD
Rockhampton is a key regional city 600kms north of Brisbane.
Stockland Rockhampton and Kmart Plaza form the largest retail
offer for the region with two supermarkets, two discount
department stores, a cinema complex and over 140 specialty
stores.
Stage 1 construction is now complete. The development links the
current Kmart Plaza to the main centre. On completion, the centre
will be the leading regional centre with a GLA of 60,000m2, six
majors and 190 specialty stores.
Location: Rockhampton, QLD
Acquisition date: June 2003
Ownership/title: 100%/Freehold
Cost including additions: $148.2 million
Independent valuation: December 2007
Valuation/($/m2): $193.0 million ($3,244/m2)
Capitalisation rate: 6.50%
Discount rate: 8.75%
Gross lettable area: 59,500m2
Car parking spaces: 2,948
Annual sales: $252.5 million
Specialty occupancy cost: 12.5%
Major Tenants GLA (m2) L ease Expiry
Coles/Kmart 10,915 Mar 2029
Big W 8,211 Nov 2028
Woolworths 4,223 Aug 2010
Birch Carroll & Coyle 3,392 Dec 2013
Lease expiry profile**
** Lease expiry profile excludes Kmart Plaza due to redevelopment.
Vacant 1%
FY10 13%
FY11 20%
FY12 5%
FY13 11%
FY14+ 50%
Stockland Cairns,
QLD
Located on the main southern arterial road accessing Cairns,
the centre occupies an 11.13 hectare site and has two discount
department stores, two supermarkets and 125 speciality stores.
A significant centre remix and upgrade project was completed in
March 2009. The centre is now enhanced with a brand new Coles
concept supermarket, new speciality stores, and an upgraded
Council Library, mini-major precinct and amenities.
Location: Cairns, QLD
Acquisition date: June 1992
Ownership/title: 100%/Freehold
Cost including additions: $162.3 million
Independent valuation: June 2009
Valuation/($/m2): $200.0 million ($4,050/m2)
Capitalisation rate: 7.00%
Discount rate: 9.25%
Gross lettable area: 49,377m2
Car parking spaces: 2,600
Annual sales: $250.0 million
Specialty occupancy cost: 11.1%
Major Tenants GLA (m2) L ease Expiry
Big W 8,259 Jun 2024
Target 7,079 Jul 2015
Woolworths 4,254 Jun 2016
Coles 3,700 Mar 2029
Birch Carroll & Coyle 3,184 Nov 2021
Lease expiry profile
Vacant 1%
FY10 6%
FY11 8%
FY12 4%
FY13 4%
FY14+ 77%
Stockland Bay Village,
NSW
Located on a strong population growth corridor, Stockland Bay
Village offers convenient shopping, 3 supermarkets, 1 discount
department store and services.
Location: Bateau Bay, NSW
Acquisition date: October 2000
Ownership/title: 100%/Freehold
Cost including additions: $109.7 million
Independent valuation: June 2009
Valuation/($/m2): $173.5 million ($5,947/m2)
Capitalisation rate: 7.75%
Discount rate: 9.25%
Gross lettable area: 29,174m2
Car parking spaces: 1,269
Annual sales: $193.4 million
Specialty occupancy cost: 14.4%
Major Tenants GLA (m2) L ease Expiry
Kmart 7,587 Aug 2009
Coles 5,135 Aug 2009
Woolworths 3,600 Apr 2025
ALDI 1,226 Sep 2015
Lease expiry profile
Vacant 1%
FY10 57%
FY11 14%
FY12 5%
FY13 2%
FY14+ 21%
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