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Stockland The Pines, VIC

Stockland The Pines is well located in one of Melbourne's strong socio-economic trade areas. The GLA is 24,450m2 and the retail mix includes Coles, ALDI and Safeway supermarkets, a Target discount department store and over 100 specialty stores and services.
Location: Doncaster East, VIC
Acquisition date: November 2004
Ownership/title: 100%/Freehold
Cost including additions: $125.0 million
Independent valuation: June 2009
Valuation/($/m2): $140.0 million ($5,726/m2)
Capitalisation rate: 7.25%
Discount rate: 9.25%
Gross lettable area: 24,450m2
Car parking spaces: 1,400
Annual sales: $166.8 million
Specialty occupancy cost: 16.0%
Major Tenants GLA (m2) L ease Expiry
Target 6,829 Jun 2012
Safeway 3,830 Jul 2024
Coles 3,197 Oct 2024
ALDI 1,374 Oct 2019
Lease expiry profile
Vacant 0%
FY10 11%
FY11 7%
FY12 6%
FY13 34%
FY14+ 42%

Stockland Burleigh Heads, QLD


Location: Burleigh Heads, QLD
Acquisition date: August 2003
Ownership/title: 100%/Freehold
Cost including additions: $114.7 million
Independent valuation: June 2009
Valuation/($/m2): $138.0 million ($5,135/m2)
Capitalisation rate: 7.50%
Discount rate: 9.50%
Gross lettable area: 26,873m2
Car parking spaces: 1,462
Annual sales: $192.1 million
Specialty occupancy cost: 12.6%
Major Tenants GLA (m2) L ease Expiry
Big W 6,673 Mar 2025
Woolworths 4,356 Apr 2026
IGA 2,454 Dec 2013
Stockland Burleigh Heads is a sub-regional centre located on the Gold Coast, one of Australia's fastest growing regions. The centre is anchored by a Woolworths and IGA supermarkets and a Big W discount department store.
Lease expiry profile
Vacant 0%
FY10 8%
FY11 16%
FY12 4%
FY13 7%
FY14+ 65%

Stockland Jesmond, NSW

Located in the suburb of Jesmond, Newcastle, the centre is constructed on 4.65 hectares. Anchored by a Woolworths supermarket, Big W discount department store and 70 specialty stores, the centre is supported by extensive car parking which has recently been upgraded as well as public transport facilities.
Location: Newcastle, NSW
Acquisition date: February 1984
Ownership/title: 100%/Freehold

Cost including additions: $42.5 million
Independent valuation: June 2009
Valuation/($/m2): $116.0 million ($5,524/m2)
Capitalisation rate: 7.50%
Discount rate: 9.25%
Gross lettable area: 21,000m2
Car parking spaces: 948
Annual sales: $161.4 million
Specialty occupancy cost: 12.7%
Major Tenants GLA (m2) L ease Expiry
Big W 7,944 Jan 2010
Woolworths 3,053 Nov 2009
Lease expiry profile
Vacant 0%
FY09 75%
FY10 9%
FY11 4%
FY12 5%
FY13+ 7%

 

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