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Stockland Forster

Located on the mid-north coast of NSW, this regional town centre includes Coles, Woolworths, ALDI, Kmart and Target Country. The centre has 70 specialty stores, an outdoor take-away food/café precinct, children’s play area and a fully equipped parents’ room. The adjoining Retail Park includes seven large format retail tenancies including Bunnings Warehouse.

Location: Forster, NSW
Acquisition date:Jul 2003/May 2010
Cost including additions:$119.7 million
Last Independent Valuation
Date:Jun 2018
Valuation:$172.5 million
Valuation $/m2:$4,421/m²
Capitalisation rate:6.25%
Discount rate:7.00%
Car parking spaces:1,409
Gross lettable area:39,022 m²
Annual sales:$237.7 million
Speciality occupancy cost:11.0%
Weighted average lease expiry:1.9 years
NABERS:6.0 (Energy) 4.5 (Water)
Green Star rating:3.0 (Performance)
Major TenantsGLA m2Lease Expiry
Bunnings8,310Mar 2019
Kmart5,838Jan 2020
Coles4,083Jan 2020
Woolworths3,800Nov 2020
Target Country1,487Holdover