Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Building Area
Land Area ()

Property Description

JLL & Savills, as joint exclusive agents, are pleased to offer a 100% freehold interest in Mt Isa Village.


Mt Isa Village comprises a modern enclosed convenience sub-regional shopping centre, dual-anchored by a strongly trading full-line Coles Supermarket and a Kmart Discount Department Store, supported by 19 specialty shops, 2 kiosks and 2 ATMs.


Mt Isa Village is being offered For Sale by Expressions of Interest closing 3PM AEST, Thursday 18 March 2021.

Investment Highlights

  • Enclosed sub-regional centre dual anchored by Coles and Kmart.
  • Dominant retail centre in expansive catchment.
  • Convenience based centre with a low specialty ratio of 18.35%* of Total GLA.
  • Strong trade area income profile.
  • Exceptional supermarket performance and sustainable specialty GOCR.
  • Substantial centre refurbishment in 2014 with total costs of $10M* including expansion & refurbishment of the Coles supermarket, refurbishment of Kmart, new majors loading docks, roof works, upgrade of common areas & mechanical plant upgrade.
  • Attractive major tenant lease terms, including: Strong outgoings recovery, low turnover rent thresholds, Coles trading well into turnover rent.
  • Strong income security ~71%* secured by Coles and Kmart.
  • Long Major Tenant WALE ~11.5* years (by income).
  • Value-add potential for an incoming owner exists, through leasing and remixing.
  • Strong rental growth with fixed 4%-5%* specialty reviews and growing supermarket turnover rent.

*Approx.


Last Updated Date: 25 May 2021
Jacob Swan
Jacob Swan
Joint Head of Retail Investments - Australia
Sam Hatcher
Sam Hatcher
Joint Head of Retail Investments - Australia

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Last Updated Date: 25 May 2021

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