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Stockland Balgowlah,
NSW
Location: Balgowlah, NSW
Acquisition date: June 2009
Ownership/title: 100% Freehold
Cost including additions: $117.0 million
Independent valuation: December 2006
Valuation/($/m2): $127.1 million* ($9,872/m2)
Capitalisation rate: 6.00%
Discount rate: 8.00%
Gross lettable area: 12,875
Car parking spaces: 684
Specialty occupancy cost: N/A
Major Tenants GLA (m2) L ease Expiry
Coles 4,464 Jun 2029
Located in the northern suburbs of Sydney, the centre occupies
13,000m2 of ‘The Village' a mixed use development with
240 apartments and has a Coles Supermarket, The Village
Grocer, Fitness First and 60 speciality stores.
Construction of this new Centre was completed in June 2009
delivering a convenient and unique boutique style centre with
a New Coles concept supermarket, premium fresh food market,
fashion precinct and 700 retail carparking spaces.
The second level due to open in late 2009 is on open air plaza
offering a restaurant and lifestyle precinct.
Lease expiry profile
Vacant 6%
FY10 0%
FY11 0%
FY12 0%
FY13 0%
FY14+ 94%
Stockland Gladstone,
QLD
Situated on the Dawson Highway, Stockland is the only major
centre in Gladstone, a thriving regional location 500km north
of Brisbane.
The property comprises two adjacent centres, linked by a
pedestrian and vehicular underpass. It includes five majors,
Coles and Woolworths supermarkets and Kmart and Big W
discount department stores and Target Country.
Location: Gladstone, QLD
Acquisition date: October 2000
Ownership/title: 100%/Freehold
Cost including additions: $65.8 million
Independent valuation: June 2009
Valuation/($/m2): $95.0 million ($3,543/m2)
Capitalisation rate: 7.25%
Discount rate: 9.25%
Gross lettable area: 26,817m2
Car parking spaces: 1,390
Annual sales: $163.4 million
Specialty occupancy cost: 10.5%
Major Tenants GLA (m2) L ease Expiry
Big W 6,828 Aug 2016
Kmart 6,687 Sep 2011
Woolworths 3,264 Aug 2016
Coles 2,995 Sep 2011
Target Country 1,481 Sep 2011
Lease expiry profile
Vacant 0%
FY10 3%
FY11 3%
FY12 45%
FY13 3%
FY14+ 46%
Stockland Nowra,
NSW
Stockland Nowra is a sub regional centre conveniently located on
the Princes Highway, a major arterial road, approximately 160 km
south of Sydney.
The centre is anchored by K Mart, a Woolworths supermarket and
50 specialty stores.
The centre has 6 hectares of zoned land adjacent to the site with
DA approval.
Location: Nowra, NSW
Acquisition date: June 2003
Ownership/title: 100%/Freehold
Cost including additions: $60.6million
Independent valuation: June 2009
Valuation/($/m2): $79.5 million ($4,964/m2)
Capitalisation rate: 7.50%
Discount rate: 9.25%
Gross lettable area: 16,015m2
Car parking spaces: 824
Annual sales: $129.4 million
Specialty occupancy cost: 11.3%
Major Tenants GLA (m2) L ease Expiry
Kmart 7,190 Nov 2013
Woolworths 4,230 Nov 2010
Lease expiry profile
Vacant 0%
FY10 11%
FY11 33%
FY12 4%
FY13 1%
FY14+ 51%
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