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Benowa Gardens Shopping Centre,
QLD
Benowa Gardens is a fully enclosed neighbourhood shopping
centre located on the Gold Coast. The centre was originally
constructed in 1992, and has been periodically refurbished,
with the most recent refurbishment completed in 1998.
The centre is anchored with a Coles supermarket and
incorporates 41 specialty retailers. There is on-site parking for
437 vehicles, including 200 covered bays.
Location: Benowa, QLD
Acquisition date: D ecember 2006
Ownership/title: 100%/Freehold
Cost including additions: $26.5 million
Independent valuation: June 2009
Valuation/($/m2): $28.5 million ($4,966/m2)
Capitalisation rate: 8.00%
Discount rate: 9.75%
Gross lettable area: 5,739m2
Car parking spaces: 437
Annual sales: $44.0 million
Specialty occupancy cost: N /A
Major Tenants GLA (m2) L ease Expiry
Coles 1,960 Apr 2022
Vacant 4%
FY 10 8%
FY 11 16%
FY 12 5%
FY 13 21%
FY 14+ 46%
Pacific Pines Shopping Centre,
QLD
Pacific Pines Shopping Centre was developed by Stockland as
part of a masterplanned community, situated in the northern
Gold Coast region, near Helensvale.
The neighbourhood shopping centre has an open plan style and
is anchored by Woolworths plus 15 specialty stores and parking
for 355 vehicles. The Woolworths supermarket is the only
supermarket within the main trade area.
Location: P acific Pines, QLD
Acquisition date: D ecember 2006
Ownership/title: 100%/Freehold
Cost including additions: $17.1 million
Independent valuation: June 2009
Valuation/($/m2): $18.3 million ($3,315/m2)
Capitalisation rate: 7.25%
Discount rate: 9.25%
Gross lettable area: 5,520m2
Car parking spaces: 355
Annual sales: $42.9 million
Specialty occupancy cost: N /A
Major Tenants GLA (m2) L ease Expiry
Woolworths 3,541 O ct 2023
Lease expiry profile
Fremantle Shopping Centre,
WA
Fremantle Shopping Centre was recently developed and
commenced trading in June 2008.
The centre is anchored by a Woolworths supermarket. In addition
to the supermarket are eight specialty stores, four kiosks, 1,107m2
of upper floor office and basement parking for 122 vehicles.
Location: F remantle, WA
Acquisition date: June 2008**
Ownership/title: 100%/Leasehold
Cost including additions: $21.4 million
Independent valuation: June 2009
Valuation/($/m2): $16.8 million ($3,601/m2)
Capitalisation rate: 8.50%
Discount rate: 9.75%
Gross lettable area: 4,665m2
Car parking spaces: 122
Annual sales: N /A
Specialty occupancy cost: N /A
Major Tenants GLA (m2) L ease Expiry
Woolworths 2,529 June 2028
Vacant 14%
FY 10 0%
FY 11 0%
FY 12 5%
FY 13 1%
FY 14+ 80%
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